Hungary’s cash flow-based general government had a HUF 234.2 bln surplus in September, reducing the gap for the first nine months of the year to nearly HUF 2.624 trillion, the Finance Ministry said in a first reading of data on Tuesday.
The central budget deficit reached HUF 2.608 tln at the end of September and the social insurance funds were HUF 202.4 bln in the red, but separate state funds had a HUF 186.8 bln surplus.
The ministry noted that measures it had taken this year had created over HUF 1,000bn of room for fiscal manoeuvre. It said interest expenditures had reached HUF 2.612 tln by the end of September, HUF 754.8 bln more than in the base period.
Payouts for European Union-funded projects came to HUF 1.152 tln, while transfers from Brussels reached just HUF 917.1 bln. Revenue from taxes and contributions climbed 9.7% from the base period.
The ministry affirmed the government’s commitment to meeting the 4.5%-of-GDP deficit target for the full year.
As Hungary returns to a sustainable growth path, the deficit, relative to GDP, is set to fall to 3.7% in 2025 and to under 3% in 2026, it added
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