It is a kind of plan, not even a goal, but a tool – as members of the government say about the budget. In fact, the budget is a law that the government must implement.

The deficit relative to GDP was around six per cent in 2023, but with a moderate recession, this is not outrageous. If they had stuck to the 3.9 per cent included in the original plans, growth would have been less than three per cent, National Secretary of State. Economist Marton Nagy said in Information radio In his presentation.

Two days ago, Benno Peter Panay, Secretary of State, Ministry of Finance Featured on wallet In his assessment of the situation, he wrote: “But when assessing the deficit, we must not forget:

The annual budget itself and its implementation are not a goal, but rather an instrument of economic policy

To preserve jobs and financial security.”

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In other words, the Directors of Budget and Economic Policy declared that they considered the budget merely a kind of plan and tool.

While the budget is a law (this year: Law 5 of 2023 on the Central Budget of Hungary for 2024), which is adopted by Parliament and which the government must implement (see Executive).

It is true that the government has ample room to maneuver – especially since 2010 – to make amendments to the budget within its powers. However, you cannot change the corner numbers (total expenses, income, deficit). When the 2023 budget entered into force, the target deficit was 3.9%, which the Ministry of Finance changed to 5.2% in the fall and then to 5.9% at the end of the year. In other words, this was declared the new deficit target, and the law was not amended.