In the month-to-month comparison, food prices rose by 0.6 percent.Continue reading
The Government is enhancing public finances despite external challenges, showing notable progress in budget management and fiscal balance.
According to the Ministry of Finance, the Government has boosted budgetary maneuverability by approximately HUF 1,000B (EUR 2.75B) this year. By July’s end, the central Government subsystem reported a deficit of HUF 2,443.3B (EUR 6.71B), which includes a HUF 2,473.2B (EUR 6.79B) deficit in the central budget, a HUF 168.4B (EUR 460M) surplus in state funds, and a HUF 138.5B (EUR 380M) deficit in social security funds.
However, July alone saw a surplus of HUF 213.0B (EUR 580M), a significant improvement from the HUF 44.3 B (EUR 120M) deficit in July the previous year.
Interest payments rose to HUF 2,217.0B (EUR 6.10B), up by HUF 700.9 B (EUR 1.93B) from the previous year. Pension and preventive medical care expenditures also increased, with pension payments at HUF 3,803.7B (EUR 10.48B) and medical care spending at HUF 1,562.6B (EUR 4.31 B).
Despite lower taxes, tax and contribution revenues were up by 9.9% year-on-year.
The government is focused on improving fiscal indicators and aims to meet a deficit target of 4.5%. The positive fiscal trends suggest the economy is on track for sustainable growth as fiscal conditions improve.
Via MTI; Featured Image: Pixabay