Pandemic response, economic protection ensured by Hungary’s 2020 central budget, says government

Hungary’s budget deficit, excluding local councils, came to 2,250.5 billion forints in December last year, bringing the deficit to 5,548.6 billion forints (EUR 15.4bn) at the end of 2020, the finance ministry said in a preliminary release of data on Monday.

The ministry said the government’s “most important goal” during the first and second waves of the pandemic was “to defend lives and preserve the ability of the Hungarian economy to function”.

The government has decided “there can be no financial obstacle to providing proper health care for or preserving the job of anyone”, it added.

The ministry said

the cash flow-based deficit was expected to reach 9 percent of GDP in 2020.

The central budget ran a deficit of 4,953.5 billion forints for the full year, separate state funds had a 46.7 billion forint surplus and the social insurance funds were 641.8 billion forints in the red.