In 2022, the general government sector’s revenues were HUF 27.715 tln, and its expenditures stood at HUF 31.874 tln.
Compared to 2021, revenues increased by HUF 4.952 tln or by 21,8%.
The largest, HUF 2.139 tln (22.1%) increase in value was recorded in taxes on production, within it, VAT revenues grew by HUF 1.231 tln (by 22.5%). Revenues from taxes on income increased by HUF 1.48 tln (47.8%), mainly due to the income tax refund to families with children (the accrual-based accounting of the refund lowered the value of the base period). Social contributions increased by HUF 685 billion (by 11.8%). Other revenues went up by HUF 646 billion (15.5%).
Expenditures increased by HUF 5.161 tln or by 19.3% year-on-year.
The growth in the case of paid compensation of employees was HUF 923 billion (15.8%), regarding social benefits other than social transfers in kind it was HUF 924 billion (15.5%). Intermediate consumption went up by HUF 604 billion (by 12.6%), and interest expenditures increased by HUF 615 billion (by 49.5%). Gross fixed capital formation grew by HUF 59 billion (by 1.7%). Other general government sector expenditures went up by HUF 2.036 tln (by 37.6%), primarily due to purchasing special natural gas stock.
The debt of the general government sector at the end of 2022 – based on data from the National Bank of Hungary – reached HUF 48.837 tln, 73.3% of GDP.
In the last quarter of 2022, the general government sector had a deficit of HUF 2.458 tln, representing 13.9% of GDP. The balance deteriorated by HUF 704 billion or by 2.1 percentage points compared to the previous year.
Revenues increased by HUF 801 billion (by 12%).
Expenditures were HUF 1.505 tln (17.8%) higher.
KSH reported the data to Eurostat, the Statistical Office of the EU, in compliance with the regulation on Excessive Deficit Procedure (EDP), according to the methodological requirements included in the European System of Accounts (ESA 2010).
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