Hungary Keeps 7.5% Deficit Goal While Drought, Energy Costs Bite
Fahad Shabbir (@FahadShabbir) | August 25, 2026
BUDAPEST, (UrduPoint / Pakistan Point News / WAM - 25th Aug, 2026)
Hungary's new government promised to clean up the budget. However, the weather and the energy market are not cooperating.
The Finance Ministry announced on Monday that it is maintaining its deficit target at 7.5% of GDP for this year. While they aren't promising significant progress, they attribute this to the ongoing drought and energy crisis.
The target would have been worse without budget measures taken after April's election, which ended Viktor Orban's 16-year rule.
"The economic situation we inherited and the costs of the drought and energy crisis make it impossible to cut the target any further," said the Finance Ministry.
Related Topics:
- Election
- Weather
- Energy Crisis
- Budget
- Drought
- Progress
- Hungary
- April
- Market
- Government