Márton Nagy: the government is planning a 3.5 percent deficit and 1.5 percent growth next year

By: Trademagazin Date: 2022. 12. 15. 11:56

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The government plans and will achieve that the budget deficit will be 3.5 percent next year after this year’s 4.9 percent, and the growth could be 1.5 percent after the 5 percent expected for this year with a good chance – said Márton Nagy Minister of Economic Development at the conference of the Oeconomus Economic Research Foundation on Thursday in Budapest.

Minister of Economic Development Márton Nagy gives a lecture at the Oeconomus Economic Research Fund

He highlighted: energy prices are a huge burden on the budget, next year the budget’s energy bill is expected to amount to HUF 2,500 billion, which also includes the cost of reducing overheads and what state institutions and companies have to pay.
He drew attention to the fact that the budget would have zero deficit or surplus if prices had not increased so dramatically, the budget deficit is now the energy bill itself.

The minister emphasized that the amount of energy consumed by the country has not increased, consumption has not increased, but prices have increased: this year it is expected that 10 billion euros more, a total of 17 billion euros, will have to be paid for energy, compared to 7 billion in 2021, and next year 17-18 billion euros are also expected. “This is a tragedy,” he said.

MTI