Hungary ESA general government deficit 4.1% of GDP in Q2

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Hungary had a preliminary general government deficit of HUF 288bn in the second quarter of 2011, translating into 4.1% of the period's GDP, the Central Statistics Office (KSH) said on Monday.

The deficit dropped from HUF 435bn or 6.5% of GDP in Q2 2010.

In the first half of 2011 Hungary still registered a HUF 1,940bn general government surplus, including revenue from the transfer of pension assets booked for first quarter.

Excluding the pension assets transfer, the first-half position translated into an ESA deficit of HUF 769.3bn or 5.5% of the period's GDP, up HUF 25.4bn from the deficit in H1 2010 in nominal terms but 0.1 percentage point less in terms of GDP.

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