Hungary budget deficit expected to fall to 2.7 pc, says EC report

Hungary's budget deficit in 2013 is expected to decline to 2.7 percent of GDP, the European Commission said in a report issued on Wednesday. The lowered projection could pave the way for a decision later today on lifting the suspension of cohesion funds, a decision expected by Hungarian officials, according to local press reports. In its 2012 report on Hungary's convergence plan, the EC said the country continued to face "serious challenges", and progress towards meeting the 2011 Council recommendations had been "mixed".