EU Raises Hungary Budget Deficit Forecast, Portfolio.hu Says

The European Commission increased its forecast for Hungary’s budget deficit this year and next, news website portfolio.hu reported, citing a commission document.

The European Union’s executive arm raised the forecast for the 2012 budget gap to 3 percent of gross domestic product from 2.75 percent and the projection for 2013 to 3.6 percent from 3.25 percent, portfolio.hu said late yesterday.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net