Hungary's cash flow-based general government balance showed a HUF 43.5 billion surplus in May, preliminary data released by the Finance Ministry, and reviewed by MTI, on Monday show.
The surplus narrowed from a HUF 129.5 billion surplus in the same month a year earlier. The general government for the period January-May reached HUF 3,806.3 billion, 90.2% of the full-year target.
The central budget had a HUF 3,694.8 billion deficit and the social security funds were HUF 182.4 billion in the red, but separate state funds had a HUF 70.9 billion surplus.
General government revenue rose 7.1% year-on-year to HUF 17,204.2 billion in January-May. Revenue from taxes and contributions climbed 6.0% to HUF 12,180.1 billion. Expenditures increased 11.4% to HUF 21,010.5 billion, boosted by spending of budget-funded organisations, home subsidies and state investments.
Spending on European Union-funded projects reached HUF 769.1 billion, while transfers from the European Union came to just HUF 523.9 billion.
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