The Hungarian Central Statistical Office (KSH) sent the regular so-called EDP Report to Eurostat, the statistical body of the European Commission. In that, Hungarian institutions reveal their latest calculations concerning the fiscal deficit and government debt figures of the past couple of years as well as estimates for this year.

While the nominal fiscal deficit and government debt figures for 2014 were left practically unchanged, the KSH’s revision of GDP data resulted in a higher than formerly anticipated figure. Instead of 2.6 percent predicted in spring, the deficit-to-GDP ratio was revised down to 2.5 percent, while the rate of general government debt was corrected from the former 76.9 percent to 76.2 percent.

The Ministry for National Economy expects that the 3.1 percent GDP growth and the 2.4 percent government budget deficit predictions of the Convergence Programme for 2015 will be realized.

The “Maastricht debt level” is expected to fall slightly, to 76.1 percent, by the end of the year. It can be impacted by the actual inflow the EU funding this year.

The Ministry’s monitoring and forecasting methods have been continuously improved and these can effectively assist fiscal management.

(Ministry for National Economy)