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Gen gov't deficit over HUF 2.309 tln at end-March

Debt

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Hungary's cash flow-based general government deficit, excluding local councils, reached HUF 2.309 tln at the end of March, the Finance Ministry said in a first release of data on Friday.

"In the current situation of war, it is of crucial importance that Hungary's economy and budget remain stable, and that households do not bear the burden of the war," the ministry said.

"The budget must continue to manage, as a priority, border defense, assistance for refugees, family support, and maintaining tax reductions," it added.

The central budget deficit reached HUF 2.331 tln at the end of March. The social security funds were HUF 17.2 bln in the red, while the separate state funds had a surplus of HUF 39.2 bln.

The full-year cash flow-based general government deficit target is HUF 3.153 tln.

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