- 9 Mar 2022 8:49 AM
- Hungary Matters
The ministry noted that families raising children got a personal income tax refund in February, while pensioners and the armed forces got bonuses.
Under-25s got a PIT exemption and the payroll tax was reduced to 13%, it added. The ministry also pointed to a 5% increase in pensions, an over 19% rise in the statutory minimum wage, and pay hikes for public sector workers from January 1 among other factors that impacted the budget balance.
The ministry’s report shows the central budget ran a 1,440.1 billion forint deficit, while the social security funds were 42.6 billion in the red at the end of February.
Separate state funds had a 49 billion forint surplus.
The full-year budget deficit target is 3,152.7 billion forints.