Hungary's budget deficit reaches 9% of GDP, prompting new fiscal planning

Hungary's central statistical office reported a first‑quarter deficit of 2.09 trillion forints, amounting to 9.0 % of GDP—its fourth‑largest shortfall since 1999 and the highest since 2006. Government revenue fell to 9.33 trillion forints while spending rose to 11.42 trillion, widening the gap by 838 billion forints year‑on‑year. Analysts warned that the current fiscal position limits the government's ability to meet the deficit‑target ceiling of 5 % and could push the annual shortfall above 6 % unless corrective measures are taken.

Finance Minister Kármán András announced a reform of the budget process: future budget bills will be submitted in autumn (Oct 1‑31) with planning deadlines moved to the end of August, aiming to reduce mid‑year amendments and improve transparency and sustainability. The ministry projects the 2024 deficit could reach 8 % of GDP, potentially falling to 7 % if EU funds are fully accounted for.