The central budget deficit reached HUF 3,271.0bn and the social security funds were HUF 214.6bn in the red, but separate state funds had a HUF 103.4bn surplus.

For the month of June alone, Hungary had a general government surplus of HUF 424.1bn, well over the HUF 27.4bn surplus in the same month a year earlier.

On the expenditure side, state investments came to HUF 346.6bn in January-June, close to HUF 100bn more than in the base period due to payments for "certain road investments", the ministry said.

Spending on support for home purchases reached HUF 255.6bn, it added.

On the revenue side, VAT revenue rose on higher turnover and an increase in the excise tax on tobacco products, the ministry said.

The detailed data show expenditures reached HUF 23,999.1bn, 54.8pc of the full-year target, while revenue came to HUF 20,616.9bn, 52.1pc of the target for the year.

Revenue for European Union-funded programmes came to HUF 546.3bn, 28.8pc of the full-year target.

Net interest expenditures reached HUF 1,287.6bn, falling by HUF 1,035.6bn from the base period.

Central budget debt climbed by HUF 2,542.2bn in January-June, lifted by HUF 2,899.8bn of net forint issues and HUF 1,188.6bn of net FX issues. The stronger forint shaved HUF 1,535.9bn off the debt.

Photo: Pixabay

Source: MTI – Hungary’s national news agency since 1881.

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