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Budget revenues may exceed October goal, PM says

Banking

Prime Minister Ferenc Gyurcsány, struggling to reduce the European Union's widest budget deficit, said budget revenue may exceed the government's goal for this month, Bloomberg reported.

Gyurcsány has raised taxes and cut subsidies to trim the shortfall, which will exceed the government's budgeted goal in 2006 for a fifth consecutive year. The higher taxes are boosting revenue, the premier said.
”Tax revenue that arrived after the 20th of this month show that the revenue expected for this month is coming in, maybe even a pinch more,” Gyurcsány said during a conference of foreign investors in Budapest today.
The government on October 17 said its budget deficit will be Ft 62.8 billion this month. That will bring the ten-month deficit to 86.6% of the annual target. The shortfall in September was Ft 70.2 billion, or 83% of the annual target.

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