• Home
• Channel: Current Affairs
• Budget Deficit HUF 2,922 Billion in October Ministry Confirms

Budget Deficit HUF 2,922 Billion in October Ministry Confirms

• 24 Nov 2021 8:07 AM
• Hungary Matters

Hungary’s cash flow-based budget deficit, excluding local councils, was 2,922.2 billion forints at the end of October, the Finance Ministry said on Tuesday, confirming preliminary data.

The central budget deficit was 2,704.4 billion forints at the end of October, while the social insurance funds were 265.1 billion in the red. Separate state funds had a surplus of 47.3 billion.

The deficit widened by 630.2 billion from a month earlier. The ministry said revenue from corporate tax, VAT, personal income tax and social insurance contributions rose in January-October from the same period a year earlier.

Revenue from employers’ social security contributions fell because of a two-percentage-point reduction in the payroll tax introduced from July 2020, it added.

“The government is continuing its crisis management based on support for families, tax cuts and investment incentives, thanks to which the re-start of the Hungarian economy has been among the fastest in the European Union,” the ministry said.


MTI Photo: Szilárd Koszticsák

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Budget Deficit October Ministry

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

Explore More Reports

'They're Trying to Silence Me', Says Leader of Hungarian DK Party

• 19 Jan 2026 10:20 AM

The suspension of Klara Dobrev's parliamentary immunity has been requested in the European Parliament, following an initiative by Balazs Hanko, minister of culture and innovation. At an online press briefing on Sunday, the Democratic Coalition's (DK) leader said the move was an attempt to silence and intimidate her, but it would not succeed.



Magyar Lays Out Key Policies to Win 2026 Election in Hungary

• 6 Jan 2026 9:59 AM

The Tisza Party is prepared for a change of government and system and will work to usher in "years of prosperity", Peter Magyar, the opposition party's leader, told a press conference.



Two Victims of Australia Terror Attack Had Hungarian Origin

• 16 Dec 2025 5:53 AM

There were two victims of Hungarian origin in the anti-Semitic terror attack in Sydney, and the government will provide all possible assistance to their relatives, Peter Szijjártó, the foreign minister, confirmed in Brussels.



Infringement Procedure Over Media Freedom in Hungary Launched by Brussels

• 12 Dec 2025 8:59 AM

It is "unbelievable" that Brussels is launching another infringement procedure against Hungary, this time concerning media freedom, Zoltán Kovács, the state secretary for international communication and relations, said in a post on Facebook.