General gov’t deficit reaches HUF 848.3 bln in December

Telco

shutterstock

Hungaryʼs cash flow-based general government deficit, excluding local councils, reached HUF 848.3 billion in 2016, a first reading of data shows, Minister for National Economy Mihály Varga said at a press conference today, according to Hungarian news agency MTI.

The twelve-month deficit last year was HUF 389 bln lower than the full-year deficit in 2015, said Varga.

In 2016, tax revenues were HUF 490 bln higher than in 2015 and expenditures relating to European Union development projects were lower by around HUF 700 bln, added Varga, noting that the government spent HUF 800 bln more on investments than the year before.

The government deficit, calculated according to EU accounting rules, could be around 2% of GDP in 2016. State debt, calculated according to Maastricht rules, could fall to around 74% of GDP in 2016, down from 74.7% in the previous year, said Varga.

Number of Thefts in Capital Edges Higher in 2023 Figures

Number of Thefts in Capital Edges Higher in 2023

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Popular Pain Meds Could Worsen Some Disease Symptoms Science

Popular Pain Meds Could Worsen Some Disease Symptoms

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.