Hungary accumulates budget deficit higher than planned for the year by the end of April
Hungary’s cash flow-based budget, excluding local councils, posted a deficit of 2,597.5 billion forints (EUR 6.7bn) at the end of April, the finance ministry confirmed in a detailed release of data on Thursday.
Hungary accumulates huge budget deficit
The central budget had a deficit of 2,590.6 billion forints and the social security funds were 103.3 billion forints in the red but separate state funds were 96.4 billion forints in the black.
Interest expenditures, which included large payments on retail government securities, came to 1,507.8 billion forints in January-April, up 632.4 billion from the same period a year earlier, the ministry said.
Spending on maintaining the regulated utilities price system for households reached 540.0 billion forints, the ministry said.
Spending on pensions reached 2,371.7 billion forints, while health-care expenditures came to 872.9 billion forints.
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Let´s borrow more money, buy an airport, foreign real estate … “Interest expenditures, which included large payments on retail government securities…”. Challenge: find Hungary on this Leaderboard. Number One in the EU, baby!
https://www.ecb.europa.eu/stats/financial_markets_and_interest_rates/long_term_interest_rates/html/index.en.html
Oh and, please EU, send us the free money so we can pay our healthcare workers and teachers. Because we are a TAKER:
https://www.iwkoeln.de/en/studies/berthold-busch-bjoern-kauder-samina-sultan-net-contributors-and-net-recipients-in-the-eu-eng.html
Our Politicians lookin´ good thanks to the EU´s massive net contributions – even with the current withheld payments. The irony!
Still much lower than when Commie Gyurcsany (Karacsony’s godfather) was in power. Socialists can’t handle finances; it’s a well-known fact.
@michaelsteiner … this basically means you´re saying Hungary consistently having the EU´s highest long-term interest rate is OK because someone over fourteen years ago did worse??? Again. It is costing us an arm and a leg now, and will burden us for decades to come.
That is … Trying to find words for it. Maybe later.