Hungary ESA general govt deficit 4.2% of GDP in 2010, down from 1st reading

Deals

Hungary had Maastricht-conform general government deficit of HUF 1,120bn or 4.2% according to preliminary national account figures, Central Statistics Office (KSH) said in a second reading on Monday.

KSH said it had reported the figures, based on ESA95 methodology in line with the rules of the European Union's excessive deficit procedure to the European statistical office Eurostat.

The figure is lower than the HUF 1,153bn or 4.3% of GDP figure KSH reported in the first reading of the 2010 deficit to Eurostat in the spring.

The figure exceeded the respective 3.8% deficit target for 2010 while was down 0.3 percentage points from 2009.

In April the National Economy Ministry attributed the deficit overshoot to higher-than-expected fourth-quarter local council deficit and statistical methodology related corrections.

Government sector debt stood at HUF 21,750bn or at 81.3% of GDP at the end of 2010, KSH said citing the National Bank of Hungary's Maastricht-conform figures.

ADVERTISEMENT

Climate change hurts economy, but creates new business oppor... Analysis

Climate change hurts economy, but creates new business oppor...

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Dentons rehires banking and finance partner Appointments

Dentons rehires banking and finance partner

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.