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2014 government deficit reaches 71.7% of target

Telco

Hungary's cashflow-based general government balance, excluding local councils, came to HUF 825.7 bln for 2014, at 71.7% of the full-year target, the National Economy Ministry announced yesterday, confirming a first reading of data released on January 8.

 Parliament amended the 2014 deficit target upward to HUF 1.1515 trillion in December. The central budget deficit came to HUF 837.1 bln for the year, or 74.2% of the respective target, while the social insurance funds had a surplus of HUF 5.7 bln instead of breaking even, and the separate state funds posted a HUF 5.7 bln surplus instead of the planned HUF 23.3 bln deficit.

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