Both Hungary, which has been under the excessive deficit procedure since it joined the EU in 2004, and the latest European Commission report forecast a budget deficit under 3% of GDP for both 2012 and 2013.

"We have fulfilled all the conditions laid down in the regulations," the State Secretary said. "We hope the [European Commission] will not take a decision using a double standard or other points of view," he added.

Parliament recently approved the 2013 central budget bill determining the deficit at 2.7%, with HUF 400 billion set aside as a precaution.

Talking about last week’s European Council meeting, where the member states discussed the banking union, State Secretary Szijjártó said that finding a solution is also in Hungary’s interest as two-thirds of its exports go to EU countries, mostly to Eurozone members.

Source: kormany.hu