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Deficit at 82.6% of full-year target by June

Telco

Hungary's cashflow-based general government deficit, excluding local councils, came to HUF 813.7 bln by the end of June, equivalent to 82.6% of the full-year target, detailed data released by the National Economy Ministry late yesteray show.

The central budget reportedly had a HUF 965.9 bln deficit for the period, which is just over the full-year target.

When the preliminary June data was released early in July, the ministry said that additional revenues from economic growth, rising employment and the online connection of tills to the tax office already improved the balance in June and are expected to have a stronger impact in the second half of the year.

The government announced last week a HUF 110 bln freeze of central budget expenditures to ensure this year's deficit target of 2.9% of GDP can be met.

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