EU suspends excessive deficit procedure for Hungary

Hungary has been the sole eye of EU decision-makers for years. However, in June, an unexpected turn came. The European Commission has announced its intention to end the excessive deficit procedure for Budapest. This technical, although very significant, decision could mean a fresh phase of relations between the EU and Viktor Orbán's government. This change is not only a political but besides an economical signal – it shows that Hungarian public finances have improved. 3 facts to know: What marks the end of EU fiscal surveillance The excessive deficit procedure is an inconspicuous but very crucial force mechanism. In theory, it serves to discipline countries that do not fall within the agreed limit of 3% of the budget deficit in relation to