Hungary’s Budget Deficit HUF 1,837 Billion At End-June

  • 9 Jul 2020 8:16 AM
  • Hungary Matters
Hungary’s Budget Deficit HUF 1,837 Billion At End-June
Hungary’s budget deficit, excluding local councils, was 1,837 billion forints (EUR 5.16bn) at the end of June, the Finance Ministry said in a preliminary release of data.

The ministry cited spending on measures to contain the coronavirus and the related economic stimulus, as well as pre-financing for projects funded by the European Union, as the main reasons for the enlarged shortfall.

Purchases of personal protective equipment and ventilators, among others, came to 520 billion forints by the end of June, while payouts for EU-funded projects amounted to 1,085.1 billion.

Transfers from Brussels, in the meantime, came to 489.5 billion forints.

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