Hungary’s budget deficit, excluding local councils, was 2,165 billion forints at the end of July, the Finance Ministry said in a detailed release of data on Wednesday.
Additional spending on virus protection, economic stimulus and pre-financing for European Union-funded projects, increased the shortfall.
Payouts for EU-funded projects came to 1,274.9 billion forints by the end of July, while transfers from Brussels were 489.5 billion.
“Resources necessary for jump-starting the economy and for pandemic defence are covered entirely from the Hungarian budget,” the ministry said.
“Although the economic recovery has begun, the jump-start after the state of emergency will continue to require resources of a large scale. It is the government’s intention to give Hungarian businesses all means of support and to create as many workplaces as have been lost because of the pandemic,”