Hungarian government sector runs 164 billion forint surplus in Q1-Q3

Budapest, January 5 (MTI) – Hungary’s government sector ran a 164.3 billion forint (EUR 532m) surplus in Q1-Q3, improving over a 436 billion forint deficit in the same period a year earlier, the Central Statistical Office (KSH) said on Thursday.

KSH attributed the improvement to increased revenue from payroll taxes and taxes on income as well as a drop in investment expenditures.

Investment expenditures were down 46.6 percent at 670.8 billion forints. Interest expenditures fell 5.8 percent to 846.1 billion forints.

The surplus was the equivalent of 0.6 percent of GDP during the period.

Revenue came to 11,591.8 billion forints and expenditures reached 11,427.5 billion forints.

Alone in Q3, the surplus came to 287.1 billion forints or 3.3 percent of GDP.

Source: MTI