Varga eyes extra spending after 10-month fiscal surplus

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Hungaryʼs general government posted an unprecedented cash flow surplus by the end of October, Minister for National Economy Mihaly Varga announced this morning, according to Hungarian news agency MTI. The minister subsequently said he will propose extra funding for several programs at next weekʼs government meeting.

The favorable budget position will make room for decisions that were not weighed at the time the budget was drawn up, Varga noted.

The ten-month surplus reached HUF 57.3 bln, a figure that compares with a HUF 816.2 bln deficit in January-October 2015.

In October alone, there was a surplus of HUF 59.7 bln.

The figures are for the central government - general government excluding local governments - and are cash flow-based.

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