The general government deficit-to-GDP ratio of Hungary has improved substantially after the change of government in 2010 which was a consequence of a proper economic policy and a disciplined and trustworthy fiscal policy. In 2011 the structural deficit excluding one-off – unplanned – items was 2.43 percent of GDP, which is lower than the 2.94 percent deficit target that had been expected. The overall balance calculated according to the EDP methodology which also includes one-off items registered an outstanding surplus of 4.3 percent. This figure has been unprecedented since the regime change.

Source:  Ameco, NGM

By the deficit figure of 2.43 percent excluding one-off – unplanned – items Hungary could meet the 3 percent deficit criteria for the very first time since our accession to the EU after only one occasion when the threshold was almost reached in 2000. We consider this achievement outstanding in light of the current risk-averse mood on international markets. In 2011 only 10 out of the EU 27 countries could achieve this result. Due to the disciplined and calculable economic policy, the government expects a favourable Hungarian deficit figure of 2.5 percent of GDP for the current year as well.

(Nemzetgazdasági Minisztérium, Közigazgatási Államtitkárság)