Hungary’y central budget posts EUR 123.5m surplus in May
Hungary recorded a central budget surplus of 49 billion forints (EUR 123.5m) in May, the finance ministry confirmed in a detailed reading of data released on Monday. The ministry added that the country’s economy had returned to a growth path.
The May surplus is the best indicator recorded for the month since 2016, the ministry said in a statement. It said that the surplus partly thanks to the transfer completed by the European Commission at the end of the month, to be used for pay hikes for teachers.
At the end of last month, the central budget had a deficit of 2,559.7 billion forints, the social security funds were 104.3 billion forints in the red, and separate state funds were 115.5 billion forints in the black.
The ministry said interest expenditures, which included large payments on retail government securities, reached 1,760.6 billion forints in January-May, up 659.4 billion from the same period the previous year.
It added that transfers from Brussels continued and reached 546.2 billion forints, while expenditures for European Union-funded programmes reached 801.9 billion forints.
The ministry affirmed the government’s commitment to reducing the deficit and state debt, noting an earlier decision to postpone 675 billion forints worth of state investments to achieve the deficit target of 4.5 percent of GDP while moving ahead with projects worth several billion forints this year.
The ministry said the budget continues to ensure the resources necessary to protect pensions and family subsidies and keep the system of regulated household utilities in place.
As we wrote earlier, Hungary accumulates a budget deficit higher than planned for the year by the end of April, details HERE.
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So, Hungary has a surplus of HUF 49 billion in May 2024. The EU sent us HUF 546.2 billion in free money, expenditures for European Union-funded programs added another HUF 801.9 billion to our economy. Whoop whoop – EU funded raises for our teachers, at last! The mind-boggling Sovereignty of it all…
Then we have interest expenditures, which included large payments on retail government securities, came out at HUF 1,760.6 billion for January-May 2024 (“up from 659.4 billion from the same period the previous year”). And Hungary currently has the highest long-term interest rate in the EU.
https://www.ecb.europa.eu/stats/financial_markets_and_interest_rates/long_term_interest_rates/html/index.en.html
Eye-watering numbers. Anybody care to orate as to how well our Politicians are performing? An “A” for effort, perhaps?
“The ministry added that the country’s economy had returned to a growth path”
Laughable, this “Blinded” statement, out of the Ministry, headed by the “Dud” of a Finance Minister, being Mihaly Varga, the partner, of the Prime Minister – Victor M. Orban, who together have been the principal architects in the REASON(s) why, we as a country, are in the DIABOLICAL deepening black “hole” we are today.
This statement – to the named – identified (2) two is rejected with the SCORN they rightly Deserve.
Got to be a real “Bum Arse” – not to be aware of – identify, in this Ministry released set of again – VEILED figures, if you pull the “Guts” out of them, to reveal TRUTH & FACT, the impact – that the funding received from the European Union, it’s massive INFLUENCE – on these figures, that records the SURPLUS budget return figure.
Extract, the European Union funds, then DO the figures, which will HORRIFY you, and reaffirm, the MISERY factually, the Economy of Hungary truthfully and factually is IN, that will WORSEN.
The PROPAGANDA statement, out of the Ministry of Finance headed by Mihaly Varga, who continues to ARGUE, with the Central Bank of Hungary, as to the policies, the direction that Varga still adapts – “charges on” that continue to send Hungary, into a DEEPER disaster Financial and Economic zone or category, who as Finance Minister – his Policies, pre and post February 2020 – have been DESTROYING – cataclysmic DISASTERS – to and on Hungary, our population, in particular in the MILLIONS.
These “Rubbery” figures – like in the past (7) seven days, released out of the United States of America relating to the donation of Funds to the Republican and Conservative Party’s for the fast approaching Presidential Elections – in November 2024.
The CLAIM of the Republican Party, headed by the “infamous” 45th “former” President of the United States of America, a convicted FELON, and CLOSE friend of the “under siege” present Prime Minister of Hungary – Victor M. Orban, – the REPUBLICAN figure of Donated funds, dominated by a SINGLE “one off” figure of 50 million United States Dollars.
Do the MATHS.
Deduct – from the figure reported that the Republican Party received in May as DONATIONS for a Trump, return to the Oval Office, the 50 million – “one off” amount – then with the deducted figure, compare it against WHAT the Conservative Party received in May Donations – and the RESULT clearly pictures, that the Republican Party, would have been SMASHED in Donations, without the “one off” – 50 million they received.
The DEMOCRATS – do the Maths – would have BEEN again the CLEAR winners in FUNDS received of Donations.
The Republican Party like the Ministry of Finance under the “guidance” of Mihaly Varga – do the maths – deduct the European Union Funds, and Hungary’s reported SURPLUS return, in May, that REPORTED – causing a totally FALSIFIED statement to be – come out of the Minister for Finance office – Mihaly Varga, stating that the Hungarian Economy had returned to a GROWTH Path.
“One offs” – they DO distort FACT – and in the case of Varga’s Ministry’s reporting, signed off and APPROVED for release to “all & sundry” by him, as with the Republican Party, in the United States of America – just ALL in the gamesmanship of PROPAGANDA – no “rooted” Truth & Facts, and Honesty inclusive of Candour – to disclose nor EXPLAIN – the BIG true Fact PICTURE.
Don’t be GULLABLE – Hungary.
Turn the Page and DO the SUMS.