Hungary’s End-Sept Deficit At 110% Of FY Target

  • 26 Oct 2018 9:04 AM
  • Hungary Matters
Hungary’s End-Sept Deficit At 110% Of FY Target
Hungary’s cash flow-based budget, excluding local councils, ran a 1,496.5 billion forint (EUR 4.6bn) deficit at the end of September, the finance ministry confirmed in a second reading of data.

The deficit reached 110% of the 1,360.7 billion forint full-year target. The central budget deficit reached 1,542.9 billion forints, while separate state funds had a 24.4 billion surplus and social insurance funds a 22.0 billion forints surplus.

In September alone, the general government had a surplus of 149.8 billion forints, which by and large equalled the sums transferred by the European Commission to the Hungarian central budget that month, the ministry said.

The government continues to project the full-year ESA deficit at 2.4% of GDP as targeted and economic growth over 4%, the ministry said.

As a result of economic performance budget revenues increase, and ensure the stability of the general government parallel with delivering social goals as well as the financing of domestic and EU developments, it said.

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