Varga: Hungary's GDP growth surpasses EU expectations

Hungary's economic output regularly surpasses the European Union's expectations, Finance Minister Mihaly Varga said at a meeting of EU finance ministers (Ecofin) in Luxembourg on Friday. Varga said that Hungary's 2020 budget bill will continue to provide a predictable environment for economic players. It targets an annual economic growth of 4 percent and a budget deficit of 1 percent of GDP. The public debt will continue to drop next year and may fall below 60 percent of GDP by 2022, he said.