ADVERTISEMENT

Hungary: FinMin cuts H1 fiscal deficit - extended

Deals

Hungary’s Finance Ministry said Tuesday it forecasts a cash flow-based general government deficit of Ft 281.7 billion for June down from Ft 307 billion projected earlier, and it cut its H1 deficit projection to Ft 706 billion or 2.6% of GDP from 2.7% in the previous forecast a month earlier.

The ministry expected Ft 732 billion six-month deficit in May, revised from Ft 803.3 billion forecast in April. In two months, H1 fiscal deficit forecast was reduced from 2.9% to 2.6% of GDP. The finance ministry, however, confirmed its earlier full year deficit target at 4.0% of GDP.

Hungary’s January-May general government deficit was Ft 424.8 billion with Ft 97.5 billion surplus in May. Five-month deficit was down Ft 328 billion from the same period last year and equaled 1.6% of the full-year GDP forecast. The H1 general government deficit forecast is equal to 2.6% of GDP, excluding local councils. (MTI-Econews)

ADVERTISEMENT

OECD projects Hungary GDP growth will slow to 5% in 2022 Analysis

OECD projects Hungary GDP growth will slow to 5% in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

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.