General Government Deficit Reaches HUF 3,667.7 Bn

Hungary's general government deficit reached HUF 3,667.7 billion at the end of October, 72.6% of the full-year target, the Ministry of National Economy confirmed in a detailed reading of data quoted by MTI on Monday.

The report noted the deficit target of the general government, corresponding to a 3.7% ESA deficit target in the adopted budget law, is HUF 4,123.0 billion. At the same time, the expected annual ESA deficit is 5.0%, that is HUF 5,055.0 billion. The deficit of the general government at the end of October was 72.6% of this.

The central budget gap reached HUF 3,616.2 billion and the social insurance funds were HUF 135.5 billion in the red, but separate state funds had a surplus of HUF 84.0 billion.

Alone in the month of September, the general government deficit came to HUF 339.0 billion.

Interest expenditures came to HUF 3,785.6 billion in January-October, HUF 587.1 billion more than in the base period.

Revenue from tax and contributions climbed 8.0%. Revenue from taxes on consumption rose 9%.

Expenditures on transportation and public utilities reached HUF 2,110.2 billion, up HUF 372.7 billion from the same period a year earlier, boosted by road upgrades, spending on waterworks infrastructure and expenditures related to the regulated utilities price scheme for households, the ministry said.

Spending on pensions and pension-like benefits reached HUF 6,072.0 billion and spending on curative and preventive care came to HUF 2,413.8 billion, both higher than in the base period.