Hungary: Higher than expected deficit

Deals

The Finance Ministry expects a Ft 172.2 billion budget deficit in November, taken without the municipalities, meaning that deficit is now at 5.4% of the GDP, state secretary Miklós Tátrai said.

In October, the deficit amounted to Ft 49.8 billion, versus a projected Ft 31.9 billion. The difference is due to Ft 18 billion extra wages paid out in October, because of holidays at the beginning of November, Tátrai said. Deficit in the first 10 months was Ft 1196.9 billion, 4.7% of the GDP. The Ministry will not change its annual prognosis of a 6.2% with and a 5.8 % deficit without the municipalities, emphasized Tátrai. (Gazdasági Rádió, NG, MH)

ADVERTISEMENT

Differences in taxation in the CEE region Analysis

Differences in taxation in the CEE region

Lawmakers postpone expanded data provision for tourism secto... Parliament

Lawmakers postpone expanded data provision for tourism secto...

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group Appointments

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group

Budapest Mayor Karácsony signs Global Declaration for Democr... City

Budapest Mayor Karácsony signs Global Declaration for Democr...

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.