(Bloomberg) -- Hungary must return to policies promoting financial balance, central bank governor Gyorgy Matolcsy -- an ally of premier Viktor Orban -- wrote, highlighting the need for a different fiscal path after the April 3 elections.

The central bank can open up its credit programs again only if fiscal policies return to a sustainable path and inflation is thus defeated, Matolcsy wrote in his weekly newspaper column on Monday. He warned of a budget funding gap that could reach 1 trillion forints ($3.1 billion).

“Rising interest payments and central bank losses -- which could reach several hundred billions of forints -- will force the government to look for new revenue sources,” he wrote in the Magyar Nemzet newspaper.

The government has planned to narrow the budget shortfall from its original plan to 4.9% of gross domestic product this year by postponing some investments. Still, the pre-election spending, including increases in pensions and family tax rebates, will will stretch the budget deficit.

The Hungarian central bank made a total 798 billion forints in profits between 2013 and 2020, according to the central bank’s annual reports. It has payed 600 billion forints to the central government in dividends during that time while stashing a large amount of its gains in foundations, which in turn invested in real estate.

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