Deficit could reach full-year target by April, says Fidesz official

By MTI

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Hungary’s main opposition Fidesz gave warning on Thursday that Hungary’s budget deficit could reach the full-year target by the end of April.

Mihaly Varga, the party’s deputy chairman, said that the warning was given by a fact-finding committee set up under his supervision earlier this week. The committee met with 29 economists who last year sharply criticised the 2010 budget in an open letter sent to the prime minister.

Finance Minister Peter Oszko said the calculations were mistaken and the ministry expected the budget deficit to come in just above 75 percent of the year-end target in January-April.

The government’s budget deficit target for 2010 is 3.8 percent of gross domestic product.

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