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KSH: Hungary’s deficit reaches 0.4% of GDP in Q3

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The deficit of the Hungarian government was HUF 109.7 billion, or 0.4% of GDP, in the first three quarters of 2015, HUF 548 bln less or 2.3 percentage points lower as compared to the same period a year earlier, Hungary’s Central Statistical Office (KSH) said today in a report based on preliminary data.

The lower-than-base-period deficit stemmed from revenues increasing at a higher rate than expenditures, KSH said.

The surplus in Q3 was HUF 38.1 bln, or 0.5% of GDP for that quarter, KSH said, adding that the balance improved by HUF 187.5 bln, or 2.3 percentage points of GDP, compared to the deficit in the same quarter of 2014.

The revenues of the general government sector came to HUF 11.7 trillion and expenditures to HUF 11.809 tln in the first three quarters of 2015, revenues increasing by 7.2% and expenditures by 2.1%, as compared to the same period a year earlier, KSH said.

In the third quarter of the year, revenues increased by 5.2% and expenditures were up by 0.3% as compared to the same quarter a year earlier, KSH added.

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