Finance min official: Gradual turnaround expected next year

The government expects the economy to start recovering next year, with growth of above 4 percent and a budget deficit below 3 percent, a finance ministry official said in an interview to public radio on Tuesday. Whereas the budget deficit is likely to be 7-9 percent of GDP this year on the back of additional spending on protection measures, a gradual turnaround is probable in 2021, state secretary Peter Beno Banai told Kossuth Radio.