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Budapest, raised deficit target back to 5 percent

Hungarian Economy Minister Marton Nagy announced that deficit targets for 2025 and 2026 have been increased to 5 percent of GDP, up from the previous targets of 3.7 percent set in the budget law. The Orban government increases spending while elections next April are in sight, despite a stagnant economy (an estimated 0.5 percent GDP increase for 2025). A measure that could hint at a quest for consensus among voters. "By now it is clear, why Orban has of the financial shield, agreed with U.S. President Donald Trump, which he bragged about recently," noted Eva Palocz, director of the economic analysis institute Kopint. Indeed, according to some analysts, because of these handouts, the Hungarian economy may soon need monetary stabilization to avoid bankruptcy. "With these increases, Orban recognizes that he has made a trip to America for a rescue package. Our economy is on an artificial respirator and needs a bailout from 'America's uncle' after the robberies of 15 years of government. We are traveling to bankruptcy," commented Orban's challenger, Democratic opposition leader Peter Magyar. (ANSA).

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