BUDAPEST: Hungary’s central bank sees the 2023 budget deficit at 5.2% of gross domestic product, well above the government’s 3.9% of GDP target, the National Bank of Hungary (NBH) said in its quarterly inflation report on Thursday.

The NBH added however that the current account deficit would narrow to 0.1 to 1.1% of GDP this year, better than its June forecast, turning into a surplus in 2024.