Budapest [Hungary], August 25: Hungary's new government promised to clean up the budget. The weather and the energy market are not cooperating.
The Finance Ministry said Monday it is keeping this year's deficit target at 7.5% of GDP.
The ministry is not promising that kind of progress this year, pointing to the summer drought and the energy crisis.
The target would have been worse without the 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 the energy crisis make it impossible to cut the target any further," the Finance Ministry said.
Source: Emirates News Agency
