Hungary's 2020 budget deficit goal reachable if not all reserves spent

BUDAPEST: Hungary's 2020 budget deficit target of 1% of economic output is achievable if some of the reserves in the budget are not spent, the National Bank of Hungary (NBH) said in its report on next year's budget bill.

Parliament will hold a final vote on the budget on Friday.

The NBH said the deficit could come in at 1.4% if all the budget reserves are used up but a partial saving of those buffers could make the target achievable.

The 2020 deficit target is below this year's goal of 1.8% of GDP. The NBH said fiscal policy was expected to be counter-cyclical next year, similarly to this year.