Hungary’s budget deficit fell to HUF 132bn as of June 2014, which comes to a cumulated shortfall of HUF 813.7bn. The country’s Economics Ministry reported a gap the central subsystem of public administration of HUF 132bn, a figure that’s only been lower once back in 2002. The ministry said the figure “was in line with trends in recent years” and reiterated that the country was committed to achieving its target of a 2.9 percent of gross GDP.
In June, the IMF called on Hungary to consider more growth-friendly measures to improve its deficit figures. These included reducing the number of VAT bands from three to just two.
