General Gov't Deficit Now Nearly HUF 68 Billion
- 11 Feb 2025 5:54 AM
Hungary's cash flow-based general government had a HUF 67.8bn deficit for the month of January, the National Economy Ministry said in a preliminary release of data.
The central budget had a deficit of HUF 166.1bn at the end of the month, but the social security funds had a HUF 62.9bn surplus and separate state funds were HUF 35.4bn in the black.
The ministry said that revenue from tax and contributions had climbed 12.5pc from the same month a year earlier.
Among expenditures, transfers to pensioners reached HUF 499.2bn, it added, pointing to a 3.2pc inflation-linked adjustment to preserve purchasing power.
Spending on prenatal baby support credit reached HUF 21.6bn in January, up HUF 3.4bn from the base period.
The government targets HUF 10.5bn in spending for the full year for interest-free credit it is offering to young blue collar workers.
The ministry noted that over 800,000 households were getting HUF 1,700bn in yields on retail government securities in the course of the year, which was "good for families, good for the economy and good for Hungary".
The ministry reiterated the government's commitment to maintaining fiscal discipline, while reducing the budget deficit and state debt levels.
"Support for economic development, families, pensioners, young people and local SMEs is at the focus of the 2025 budget," it said.
Source:
MTI - The Hungarian News Agency, founded in 1881.
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