KSH: General gov't deficit reaches 1.4% of GDP in Q3

Telco

Hungary's general government deficit came to 1.4% of GDP or HUF 108.6 bln, in Q3 2014, according to preliminary data released by the Central Statistics Office (KSH) today, with the deficit reaching 2.6% of GDP, the equivalent of HUF 573.4 bln, in the first three quarters of last year.

The deficit for Q3 dropped by HUF 88.2 bln as compared to the previous quarter, while the deficit of the first three quarters declined by a year-on-year 0.4% or HUF 96.6 bln.

According to Hungarian news agency MTI, the figures were calculated based on the revised European System of Accounts of the European Union, or "ESA2010", which was adopted last fall. Economy minister Mihály Varga put last year's ESA deficit at about 2.7% of GDP in a recent interview with MTI.

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