Budget shows Jan surplus; full-year gap expected at 6.5 pc of GDP
Hungary’s cash flow-based based budget, excluding local councils, had a 198.8 billion forint (EUR 556.8m) surplus at the end of January, the finance ministry said in a preliminary release on Monday.
The ministry said the January surplus is “not uncommon” and attributed it to seasonal effects.
The central budget had a 180.5 billion forint and the separate state funds a 22.4 billion forint surplus, but the social insurance funds were 4.1 billion forints in the red.
The ministry added that the budget is expected to finish the year with a deficit equivalent to 6.5 percent of GDP, calculated according to the European Union’s accrual-based accounting rules.
Read also40 pc of the bars in Budapest’s party district already bankrupt?
If you would like to support the work of the Daily News Hungary staff and independent journalism,
please make a donation here
please make a donation here
Hot news
Hungarian price of electricity lowest in the EU
Orbán cabinet: We are the ones doing the European Union a favour
From Europe-day celebrations to new exhibitions: here are some of the best programs in Budapest to attend in May
Exports and imports both down in Hungary – official data
Brand new Budapest Airport Hotel is on its way – astonishing VISUALS
11 EP lists to compete in Hungary on 9 June