Hungary’s cash-flow-based budget shortfall at the end of March was 2,089.7 billion forints (EUR 5.6bn), the Finance Ministry confirmed on Tuesday.
The central budget deficit was 2,019 billion forints, while social security funds were 89.6 billion in the red. Separate state funds posted a surplus of 18.9 billion. The deficit in the month of March came to 564.6 billion, well below the 875.7 billion forint shortfall in the same month a year earlier. The government targets a deficit of 3,400.2 billion forints for the full year.
In 2022, the budget was 4,753.4 billion forints in the red. The ministry noted the war and energy crisis as having “changed the economic environment radically”, adding that families, jobs and pensions would enjoy government protections nonetheless. The ministry confirmed the full-year accrual-based deficit target of 3.9 percent of GDP and a public debt below 70 percent of GDP.
The budget deficit reached 61 percent of the annual planned deficit in just three month, telex.hu wrote.
please make a donation here
Hot news
Hungary among the best European countries for outdoor workouts
PHOTOS: Hungarian animation film wins in Cannes
PHOTOS: Unique Hungarian castle garden opened
Hundreds of thousands of Hungarians attended the Pentecost mass in Csíksomlyó, Romania
Hungary blocks the newest EU sanctions package against Russia
PM Orbán invites Qatar investors to buy Budapest Airport
1 Comment
Do Hungarians UNDERSTAND the mounting PRESSURES on-going in relating to the Hungarian Economy ?
This is ANOTHER wake up call that we are in a MASSIVE descending BLACK Hole.
Are we in an Insolvent position?
ALL the Major Economic & Financial indicators just SICKEN me, the downward TREND they continue.
Talk of Inflation being under control or hit its ZENITH in Hungary is FALSE Information.
Mr Prime Minister – what MAGICAL Wand – in your “bag of tricks” – are YOU going to introduce to STEM this on-going decline – the WORTH of Hungary?
Mr Prime Minister it is You and your Governments DOINGS – your OWNERSHIP – for the diabolical sickening state our Economy is FACTUALLY in.
YOU can’t BORROW “bailing out” funding again.
Money from the European Union “on hold” through the creation of your attitude one of not complying to the Laws of Membership – that have DEFACED insulted abused that of DEMOCRACY.
To what extent are you going to allow – let our Economy just SLIP away, into a WORSENING state of Insolvency.
Mr Prime Minister – plan(s) to STABLIZE our Economy?
Explain – PLEASE.
Its devastating breaking it ALL down – the current Economic & Financial picture of Hungary, which will Intensify.