Forint Drops as Orban Loosens Budget With Eyes on US Support (3)

Hungarian assets dropped as Prime Minister Viktor Orban’s administration raised budget deficit targets to accommodate pre-election spending, while saying it wouldn’t need as much aid from the US as Argentina.

The forint and bank shares fell after the Economy Ministry said that the shortfall will probably rise to 5% of gross domestic product this year from a previous target of 4.1%. The gap will stay at 5% in 2026, instead of the 3.7% deficit anticipated in next year’s budget.

The ministry said it aims to collect 370 billion forint ($1.1 billion) from a bank levy in 2026, double the ...