Reuters reveals Hungary’s economy likely to shrink more than 3%

In an interview with Reuters, Hungary’s Finance Minister Mihaly Varga said economic contraction this year is likely to be deeper than the government’s projection last month for 3% and the current budget deficit goal of 3% per GDP is “not carved in stone.” Varga told Reuters that the government will revise its GDP and deficit projections at the end of April as the coronavirus pandemic is taking a bigger than expected economic toll on the Central European country.