• Home
• Channel: Finance
• Details Released for Hungary's Budget Deficit of HUF 1,434 Billion

Details Released for Hungary's Budget Deficit of HUF 1,434 Billion

• 9 Mar 2022 8:49 AM
• Hungary Matters

Hungary’s cash flow-based budget deficit, excluding local councils, was 1,433.7 billion forints at the end of February, lifted by tax refunds, pensioner and public sector bonuses and a payroll tax cut, a first reading of data released by the Finance Ministry on Tuesday shows.

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.


MTI Photo

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

• Budget Deficit

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

Forint Hits 18-Month High

• 20 Nov 2025 6:45 AM

By early Wednesday evening, the euro's exchange rate approached 381 Forints, marking an 18-month high for the Hungarian currency. The euro stood above 384 Forints on Wednesday morning, but the Forint began to strengthen steadily from 11 AM, with the rate falling below 381.7 Forints just before 7 PM.



Officially Forecasted Inflation in Hungary 'Over Tolerance Band for Rest of Year'

• 26 Sep 2025 10:09 AM

The National Bank of Hungary (NBH) acknowledged a moderation of inflation in recent months compared to levels early in the year, but said CPI was expected to stay above the 2pc-4pc tolerance band for the rest of the year in a report.



Updated: Hungary Rolls out Europe's Biggest Tax Reduction Programme

• 9 Apr 2025 7:18 AM

New measures announced by the government will give Hungary the "most comprehensive" tax system supporting children and employment in Europe and possibly the world, Gergely Gulyas, the head of the Prime Minister's Office, said at a weekly press briefing.



Updated: Why has Gov't Deficit Widened to Over HUF 1.7 Billion in Hungary?

• 27 Mar 2025 6:18 AM

Hungary's cash flow-based general government deficit reached HUF 1,722.8bn at the end of February, the National Economy Ministry confirmed in a detailed release of data.