BUDAPEST, Jan 25 (Reuters) - Hungary will not be able to achieve a budget deficit of 3% of GDP this year as previously indicated, only by 2025, Finance Minister Mihaly Varga told private radio broadcaster Inforadio on Thursday.
"It is very rare, whichever country we take, to reduce a state budget deficit from 6% to 3%, because such an adjustment...would make growth that just began very difficult," he said.
A surge in inflation last year to 25%, the highest in the European Union, pushed Hungary's economy into recession and halted consumption, draining related revenue from the budget.
While GDP growth is expected to resume in 2024, a Reuters poll last month suggested it would miss the government's 3.6% forecast.
"This 3% budget deficit target that we planned previously is not achievable in a year due to last year's (economic recession)," Varga said, emphasising the need to balance the budget without hindering economic growth.
Otherwise such a decision would require a 2700 billion forints (7 bln euros) adjustment, the minister said.
"This is more of a 2-year long plan. But this is my personal opinion as a finance minister, not an official viewpoint of the government, yet."
The minister reiterated that the government estimates that prices will rise 5.2% in 2024 in Hungary.
(Reporting by Boldizsar Gyori; Editing by Kirsten Donovan)
