Hungary ESA general govt deficit 4.2% of GDP in 2010, down from 1st reading

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Hungary had Maastricht-conform general government deficit of HUF 1,120bn or 4.2% according to preliminary national account figures, Central Statistics Office (KSH) said in a second reading on Monday.

KSH said it had reported the figures, based on ESA95 methodology in line with the rules of the European Union's excessive deficit procedure to the European statistical office Eurostat.

The figure is lower than the HUF 1,153bn or 4.3% of GDP figure KSH reported in the first reading of the 2010 deficit to Eurostat in the spring.

The figure exceeded the respective 3.8% deficit target for 2010 while was down 0.3 percentage points from 2009.

In April the National Economy Ministry attributed the deficit overshoot to higher-than-expected fourth-quarter local council deficit and statistical methodology related corrections.

Government sector debt stood at HUF 21,750bn or at 81.3% of GDP at the end of 2010, KSH said citing the National Bank of Hungary's Maastricht-conform figures.

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