Publication: Magyar Közlöny
Issue: MK-2009-86 (Year: 2009, Number: 86)
Era: 2004-2010
Section: 2007. évi CVI. törvény módosításáról*
Paragraph Index: 14

5. In the light of the latest strong deterioration in the international and domestic economic environment, the growth outlook underlying the economic programme of the Government as modified in the context of the previous review mission appears outdated, as GDP growth is now expected to decline by 6.7%, against the forecast of a 3–3.5% decline in March 2009. Against this background, the authorities revised their economic programme. The new strategy comprises an upward revision of the deficit target to 3.9% of GDP coupled with further adjustment measures of 0.8% of GDP mainly on the expenditure side, and implies a larger-than-planned fiscal effort compared to the February plans, as well as a series of additional structural measures to improve the long-term sustainability of Hungary’s public finances, in particular in the areas of the pension, social support and local government systems. It also comprises a commitment to further reduce the deficit in 2010 to a level that does not exceed 3.8% of GDP and to less than 3% of GDP in 2011.

Source: https://magyarkozlony.hu/hivatalos-lapok/5d32fd5ce33f88d741755e44e13040d2e9fa114b/dokumentumok/8cb6ae986331daa0ef5ea535a064d84aed7bccf9/letoltes