Hungary’s Budget Deficit Reaches HUF 5,101.5 Billion for 2021

  • 12 Jan 2022 10:11 AM
  • Hungary Matters
Hungary’s Budget Deficit Reaches HUF 5,101.5 Billion for 2021
Hungary’s cash flow-based budget deficit, excluding local councils, reached 5,101.5 billion forints (EUR 14.2bn) at the end of December, the finance ministry said in a preliminary reading of data released on Tuesday.

“The budget ensured, to the full extent, the resources necessary to restart the economy and the defence against the pandemic,” the ministry said.

“In the interest of restarting the economy, the government continued its economic policy based of tax reductions, job creation and the strengthening of families in 2021. As a result, the economy may have grown by 6.4%, while the number of employed rose to 4.7 million and the jobless rate fell under 4%. Additionally, resources used for family subsidies and for the defence of pensioners increased further,” the statement said.

The deficit climbed by 1,170.2 billion forints from the previous month.

The central budget deficit reached 4,662.3 billion forints at the end of December, the social insurance funds were 419.4 billion forints in the red and separate state funds also showed a gap of 19.8 billion.

  • How does this content make you feel?

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

  • Budget Deficit in Hungary Grows to HUF 1,525 Billion

    Budget Deficit in Hungary Grows to HUF 1,525 Billion

    • 24 Mar 2023 9:17 AM

    Hungary’s cash flow-based budget balance finished February with a 1,525.1 billion forint (EUR 3.9bn) deficit, the finance ministry confirmed in a second reading of data. The deficit widened from 143.6 billion forints at the end of January.

  • Economic Growth Expected to Continue in Hungary

    Economic Growth Expected to Continue in Hungary

    • 10 Mar 2023 8:43 AM

    The government expects economic growth to continue in the next twelve to eighteen months, exceeding 4% in 2024, while state debt and government budget deficit will fall, Finance Minister Mihály Varga said at an event of the Chamber of Commerce and Industry.

  • Budget Ends January With HUF 144 Billion Shortfall, Hungarian Finmin Confirms

    Budget Ends January With HUF 144 Billion Shortfall, Hungarian Finmin Confirms

    • 23 Feb 2023 9:14 AM

    Hungary’s cash flow-based budget posted a 143.6 billion forint deficit, the Finance Ministry confirmed on Wednesday. The central budget was 190.8 billion forint in the red, the social security funds had a surplus of 3.6 billion, while the separate state funds also posted a surplus, of 43.6 billion forints.