Hungary's parliament on Tuesday approved the 2023 budget, which sets out to reduce the budget deficit next year to 3.5% of economic output from a targeted 4.9% this year as the government tries to put finances back on a sustainable track.
Nationalist Prime Minister Viktor Orban, who won a fourth consecutive term in office in April, is facing his toughest challenge since taking power in 2010, with inflation at a two-decade high, a weak forint and EU funds still held up amid a dispute over democratic standards.
