news letterOur mobile application

Weekly newsletter

Budget Deficit 39.1 pc for Full-Year Target at End-June

MTI-Hungary Today 2019.07.08.

Hungary’s cash-flow-based budget, excluding local councils, ran a 390 billion forint (EUR 1.2bn) deficit at the end of June, the finance ministry said in a preliminary release on Monday.

The deficit hit 39.1 percent of the 998.4 billion forint full-year target.

EC Raises Hungary GDP Forecasts

In June alone, the shortfall came to 213.6 billion forints.

The central budget deficit was 467.3 billion forints in the first half of 2019, while the separate state funds and the social insurance funds had surpluses of 61.0 billion and 16.3 billion forints, respectively.

The full-year accrual-based deficit target of 1.8 percent of GDP is “realistic and achievable”, while the public debt to GDP ratio continues to decline, the ministry said.

Featured photo by Péter Komka/MTI