Ministry confirms Hungary four-month deficit at 60% of full-year target

Telco

Hungary posted a cashflow-based general government deficit, excluding local councils, of HUF 528.6 billion in the first four months of 2013, or 60% of the HUF 841.8 billion full-year target, the National Economy Ministry said in a second reading on Wednesday. All main figures for April as well as for the first four months were unchanged from a first reading released on May 7. Four-month central government revenue, at 30.8% of the annual total, was behind the pro-rata target. The gap to the pro-rata figure was narrower in the case of expenditure, which reached 32.4% of the annual target by the end of April. Within the total, four-month central budget revenue reached 28.7% of the annual target as against 30.7% a year earlier. Four-month central budget expenditure stood at 32.5% of the full-year goal, and was slightly ahead of the 31.5% respective ratio last year.

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