Hungary to Miss Budget Goal Again on Pre-Election Tax Breaks (1)

Hungary’s government conceded that it’s on track to once again miss its budget target next year after Prime Minister Viktor Orban ramped up pre-election fiscal promises.

The new shortfall goal should be 3.5% of gross domestic product in 2026, instead of the earlier 2.9% that would have brought it within the European Union’s limit, the Economy Ministry said in a statement on Thursday.

Orban is planning billions of dollars in tax breaks to mothers and pensioners, phased in gradually starting this October, as his governing Fidesz party is trailing in polls before elections in little over a year’s time. Bloomberg ...