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Parliament passes 2023 budget

July 22nd, 2022

An economic analyst predicts that the 2023 approved by Parliament on Tuesday will need to be revised several times due to global economic uncertainties.

Portfolio’s Gergely Csiki thinks that it will be very difficult to stick to the 2023 budget approved by Parliament on Tuesday. The centrist analyst recalls that the government decided several years ago to pass budgets early in the year, to strengthen stability. However, Csiki notes, under the current circumstances of global economic uncertainty, it is very difficult to plan for 2023. He quotes the Fiscal Council, a body elected by Parliament to supervise public finances, warning that inflation, global growth problems, the Russia-Ukraine war and the government’s dispute with the EU over funds make it necessary for Hungary to have alternative plans at hand as well. Csiki contends that the budget for 2023 should be considered as a ‘roadmap’  that will need to be adjusted continuously.