We also increased performance in the dangerous international environment.
The Hungarian government sent the convergence program to the European Commission by the deadline of April 30, in which the Ministry of Finance describes its medium-term plans and what kind of public finance and macroeconomic processes it plans to use in the coming years, Világgazdaság reports .
According to the newly sent program, after 1.5 percent this year, GDP may increase by 4 percent next year. And for 2025 and 2026, the government expects an increase of 4.3–4.5 percent.
After this year's 3.9 percent, the budget deficit may drop below 3 percent next year, thereby meeting the 3 percent Maastricht criterion again after four years. In addition, the level of public debt caused by the coronavirus can decrease more and more quickly. In 2024, the debt ratio may drop to 66.7 percent of GDP, which may fall again below 60 percent by 2026 - after more than 20 years.
Based on the government's expectations, inflation will also decrease significantly. After this year's 15 percent, it may drop to 6 percent next year.
Featured image: MTI
