Official: this is how Hungary’s public deficit will be in 2024, and the debt ratio is also showing badly

MTI-ECONEWS – Hungary’s government sector had a HUF 4,002bn deficit in 2024, equivalent to 4.9pc of GDP, data released by the Central Statistics Office (KSH) on Tuesday show.

According to KSH, government sector revenue rose 6.7pc to HUF 34,203bn, while expenditures increased 2.9pc to HUF 38,206bn. Revenue from social insurance contributions climbed 13.1pc to HUF 8,443bn and revenue from taxes on production and imports increased 5.9pc to HUF 13,922bn, including VAT revenue of HUF 7,507bn, up 6.4pc.

On the expenditure side, investment spending fell 12.6pc to HUF 3,387bn, but interest expenditures climbed 14.3pc to HUF 4,040bn. In the fourth quarter alone, the government sector deficit reached HUF 1,749bn, equivalent to 8.4 percent of GDP.

KSH, based on data from the National Bank of Hungary (NBH), said

Hungary’s state debt reached HUF 59,875bn at the end of 2024, equivalent to 73.5pc of GDP.

As we wrote on yesterday, Minister Nagy sets ambitious second-half GDP growth target, details HERE.