Confirming earlier preliminary data released on December 7, the central budget ran a HUF 1,667.0 bln deficit at the end of November and the social insurance funds were HUF 93.3 bln in the red, while separate state funds had a HUF 121.3 bln surplus.
The deficit thus reached 140.5% of the HUF 1,166.4 bln full-year target as of the end of November, MTI noted.
The general government had a HUF 220.8 bln deficit in the month of November alone.
The ministry noted that advance payments on EU funding came close to HUF 1,925.2 bln, while EU transfers reached just HUF 381.7 bln.
It added that some 2.75 million pensioners received an inflation-linked top-up and growth premium in November.
Revenues from VAT, personal income tax, payroll tax and social contributions were up during the period, lifted by a six-year agreement on wage hikes and rising employment, the ministry said.
The full-year deficit target of 2.4% of GDP, calculated using European Union accounting rules, is “achievable with certainty,” it added.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
