June 4th, 2019
Finance Minister Mihaly Varga submitted Hungary's 2020 budget bill to parliament on Tuesday. Before presenting the document to Speaker of Parliament Laszlo Kover, the minister said the bill is designed to support families with a focus on implementing the government's family protection action plan. He highlighted increased support for families, the economy protection action plan, tax cuts and increased spending on security as the budget's four main pillars. Next year's budget targets annual economic growth of 4 percent and a budget deficit of 1 percent of GDP, he said. The public debt is seen dropping to 65.5 percent of GDP by the end of the year and inflation is targeted at 2.8 percent, according to the figures released on Parliament's website. He said the government had once again drafted a balanced budget.