Hungary’s cash flow-based based budget, excluding local councils, had a 198.8 billion forint (EUR 556.8m) surplus at the end of January, the finance ministry said in a preliminary release on Monday.
The ministry said the January surplus is “not uncommon” and attributed it to seasonal effects.
The central budget had a 180.5 billion forint and the separate state funds a 22.4 billion forint surplus, but the social insurance funds were 4.1 billion forints in the red.
The ministry added that the budget is expected to finish the year with a deficit equivalent to 6.5 percent of GDP, calculated according to the European Union’s accrual-based accounting rules.
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