Hungary's central bank sees the 2024 budget deficit between 4.5% to 5% of gross domestic product, possibly exceeding the government's recently-increased 4.5% target, it said in its quarterly inflation report on Thursday.

"For the debt ratio to decline continuously in 2024 and Hungary's risk perception to improve, it is also necessary to achieve the set deficit targets in a credible manner," it said. (Reporting by Gergely Szakacs, Alan Charlish and Paweł Florkiewicz)