Hungary's general government deficit reached HUF 4,070.4 billion at the end of November, 80.5% of the full-year target, the country's National Economy Ministry confirmed in a detailed reading of data on Monday, MTI says.
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 November is 80.5% of this.
The central budget gap reached HUF 3,904.0 billion and the social insurance funds were HUF 240.3 billion in the red, but separate state funds had a surplus of HUF 73.9 billion.
Alone in the month of November, the general government deficit came to HUF 402.8 billion.
Interest expenditures came to HUF 4,014.1 billion in January-November, HUF 601.4 billion more than in the base period.
Revenue from tax and contributions climbed 7.9%. Revenue from taxes on consumption rose 9%.
Expenditures on transportation and public utilities reached HUF 2,226.5 billion, up HUF 412.1 billion from the same period a year earlier, boosted by 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 6,733.8 billion and spending on curative and preventive care came to HUF 2,635.5 billion, both higher than in the base period.
"Hungary's finances are in order, allowing the government to ensure the resources necessary for measures to support families, pensioners, young people and businesses, despite the negative external economic environment" the ministry said.
Total revenue in January-November reached HUF 35,616 billion, up by 5.9% from the same period a year earlier. Total budget expenditures reached HUF 36,687 billion, 7.5% higher than in the base period.
Central budget debt increased by HUF 4,092 billion by the end of November. Net forint issues increased the debt by HUF 3,180 billion. Net FX issuance reached HUF 2,350 billion. The strengthening of the forint exchange rate compared to the end of last year reduced the book value of the FX part of the debt in forints by HUF 1,349 billion, the report shows.
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