Eleven-month general government deficit at 62%
Hungary's cashflow-based general government deficit, excluding local councils, had a HUF 95.9 bln surplus in November, bringing the 11-month deficit to HUF 713.7 bln, which is 62.0% of the recently increased full-year target, the National Economy Ministry said in a second reading of data yesterday.
The November surplus as well as the 11-month deficits are unchanged from the figures in the first reading published on December 8. The 11-month deficit ratio dropped, however, from 72.5% in the first reading as the Parliament revised in the meantime the deficit target for the full year up to HUF 1,151.5 bln from HUF 984 bln. The bulk of the amendments reflected the state's assets purchases most of which raised the cashflow shortfall but did not affect the accrual-based ESA deficit.
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