Hungary’s cash flow-based budget deficit narrowed to 2,443.3 billion forints (EUR 6.1bn) at the end of July on a 213 billion forint surplus for the month, the finance ministry said in a preliminary release of data on Thursday.
The central budget had a deficit of 2,473.2 billion forints at the end of the month and the social security funds were 138.5 billion in the red, but separate state funds were 168.4 billion in the black.
The ministry attributed the July surplus to government measures taken this year improving the room for fiscal manoeuvre by around 1,000 billion forints.
Interest expenditures came to 2,217.0 billion forints in January-July, up 700.9 billion forints from the same period a year earlier.
Revenue from taxes and contributions climbed 9.9 percent from the base period.
The ministry affirmed the government’s commitment to improving balance indicators and said the 4.5 percent of GDP deficit target for the year was achievable.
“With the improvement of fiscal room for manoeuvre, the economy will return to the sustainable growth path,” it said.
Read also:
- Cargo transport in Hungary in grave danger: authorities may close key Danube bridge because it threatens lives – read more HERE
- Romania’s minimum wage rises, surpasses Hungary in EU rankings
please make a donation here
Hot news
Floods in Hungary: military to deploy unlimited troops to bolster national defense efforts
Why aren’t Hungary’s soldiers helping flood protection? – Here is the minister’s answer
Budapest Airport eliminates baggage theft with a world-first innovation
Fever’s Candlelight Concerts arrive in Hungary
Getting solutions while losing understanding – these are the biggest dangers of AI in education
EU presidency: two-day informal meeting of EU higher education and research ministers in Budapest
1 Comment
The Real Person!
Author Norbert acts as a real person and passed all tests against spambots. Anti-Spam by CleanTalk.
Seeing is believing. Since much is still unknown about the surprise China loan … Well it was only EUR 1 billion. Facility fully drawn down. Good thing Hungary´s repayment is not due for another three years – but what are the terms???
https://www.politico.eu/article/budapest-hungary-took-1-billion-loan-chinese-banks-peter-szijjarto/