Hungary finance minister projects healthy growth in 2021

The government expects healthy economic growth of 4.8 percent next year and moderate inflation of 3 percent, Finance Minister Mihaly Varga told lawmakers in remarks opening the budget debate on Wednesday. The deficit target is 2.9 percent of GDP, just below the Maastricht threshold, while reserves built into the budget draft provide a 'safety net' of more than half a percent of national income, he said. Also, the public debt is set to decline further, the minister added. Next year's budget, Varga said, contains a health insurance and epidemiological fund as well as an economic protection fund. It is also geared towards the protection of families, supporting economic developments and guaranteeing Hungary's security, he added.