Gen Gov't Has January Surplus

Debt

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Hungary's cash flow-based general government had a HUF 54.4 bln surplus at the end of January, the Finance Ministry said in a preliminary release of data this week.

The central budget had a deficit of HUF 37.4 bln at the end of the month, but the social security funds had a HUF 50.2 bln surplus and the separate state funds were HUF 41.6 bln in the black.

The ministry noted that the budget had ensured resources for a 6pc pension rise as well as the continuation of the regulated price scheme for household utilities and family subsidies.

"The government aims to strengthen growth this year, while continuing to reduce budget deficit and state debt levels," it added.

The ministry noted that expenditures related to the regulated utilities price scheme for households had come to HUF 181.3 bln in January.

European Union transfers reached HUF 226 bln, up from HUF 34.6 bln in the base period, as a suspension of some of Hungary's EU funding was lifted after the country complied with the European Commission's conditions regarding judicial reforms.

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