The programme projects the economy to bounce back and grow by 4.8% next year, the ministry said in a statement.

Economic growth is seen exceeding 4% between 2022 and 2024.

The document puts this year’s budget deficit at 3.8%.

The public debt-to-GDP ratio is projected to rise this year, before falling again from 2021, to below 60% by 2024.

Hungary’s economic policy remains committed to the improvement of the country’s competitiveness, continued tax cuts and fiscal discipline, the ministry said.