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Hungary’s government said it will overshoot the budget deficit estimate for 2023 by more than half a percentage point of economic output, raising fresh doubts about the credibility of its fiscal targets.
In a last minute announcement, the Finance Ministry said the projected shortfall for the year ended Dec. 31 will hit 5.9% of GDP. That is 0.7 percentage point higher than the government’s revised deficit target for the year, and compares to the 3.9% estimated initially.
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