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Hungary Q2 Budget Deficit Surpasses 9% of GDP

MTI-Hungary Today 2020.10.01.

Impacted by the pandemic, Hungary’s budget deficit came to 986 billion forints (EUR 2.7bn) for the second quarter, equivalent to 9.1 percent of GDP for the period, data released by the Central Statistical Office (KSH) on Thursday show.

Revenue came to 4,964 billion forints, down 5.5 percent from the same period a year earlier. Expenditures were up 14.0 percent at 5,949 billion forints.

For the first half, the budget deficit came to 1,219 billion forints, equivalent to 5.3 percent of GDP for the period.

Revenue fell by 1.4 percent to 9,823 billion forints and expenditures rose by 12.6 percent to 11,042 billion forints.

In the featured photo illustration: Finance Minister Mihály Varga. Photo by János Mészáros/MTI