Only once in 22 years has the October general government deficit been bigger than now
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The Finance Ministry released preliminary data on Monday showing that Hungary’s cash flow-based general government deficit reached EUR 7.45bn (HUF 3,050.5bn) at the end of October.
At the end of the month, the central budget had a deficit of EUR 7.44bn (HUF 3,048.5bn), the social security funds were HUF 199.0bn in the red, and separate state funds were HUF 197.0bn in the black.
Alone in October, the general government deficit came to EUR 1,04bn (HUF 427.0bn).
“The impact of unfavourable circumstances in the global economy can be felt in Hungary’s economic performance,” the ministry said.
“After a temporary slowdown, Hungary’s economy will be on a sustained growth path and could be at the forefront in the European Union growth ranking in 2025, providing the foundation for a strengthening fiscal balance,” it added.