Budget posts 11 month EUR 189m surplus
Budapest, December 7 (MTI) – The cash-flow-based surplus, excluding local councils, was 59.3 billion forints (EUR 189m) in the first eleven months of 2016, according to a first reading of data released by the Economy Ministry on Wednesday.
The eleven-month surplus this year compares to a 970.7 billion forint deficit during the same period in 2015.
In November alone, budget ran a 2 billion forint surplus.
The ministry attributed the surplus to favourable economic developments, the whitening of the economy, higher tax revenues and financing from the European Union.
The October budget position had not yet included 176 billion forints of EU funding retroactively due to Hungary after a dispute over earlier road construction tenders was resolved. These funds arrived in the accounts in the last days of October.
Source: MTI
please make a donation here
Hot news
Top Hungary news: Szoboszlai’s engagement, Schengen Zone, guest workers, Wizz Air’s new flights – 17 October, 2024
France’s Rassemblement National a strong ally of the Orbán cabinet, says minister
Budapest will become the world’s ballet capital in November
4 Hungarian tourism destinations recognised among Europe’s best!
Minister talks about the Hungarian economy’s future: 3-4% GDP growth, SME program, strict rules for Airbnb, rentals
English soccer fans outraged about Hungarian “worst food in football”