ESA deficit 8.5% of GDP excluding one-off factors
Excluding one-off factors coming to 3% of GDP, the net financing requirement of the Hungarian general government, equivalent to the ESA95 general government deficit, was 8.5% of GDP of the seasonally adjusted GDP in the first quarter 2006, the National Bank of Hungary (MNB) reported based on seasonally adjusted financial accounts data on its website on Monday.
Including one-off factors such as the delivery of the first Gripen aircafts under a long-term lease in the first quarter and motorway investments activated in the period, the ESA95 deficit came to 11.5% of GDP in the quarter. The figures, revised 0.4 percentage points down from preliminary ones reported on May 16, are not adjusted for the effects of the pension reform.
The government projects this year's ESA deficit at 9.4% of GDP before and 8% after adjustment for the pension reform, taking into account the deficit-reducing effects of the fiscal tightening measures announced early June.
In 2005, Hungary's ESA deficit was 7.5% before adjustment for the effects of the pension reform, and the adjusted deficit was 6.1% of GDP.
ADVERTISEMENT
Hungary Trade Surplus at EUR 308 mln in April
Parl't Approves Amendments to Legislation on Judiciary
H2Offices 1st Phase Gets Leed Platinum Certification
Landmark Budapest Dept Store to Reopen After HUF 8 bln Renov...
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.
