Gen Gov’t Deficit Narrows to HUF 2.444 tln on July Surplus

Hungary's cash flow-based general government deficit narrowed to HUF 2.443 trillion at the end of July on a HUF 213 billion surplus for the month, the Finance Ministry said in a preliminary release of data on Thursday.

The central budget had a deficit of HUF 2.473 tln at the end of the month and the social security funds were HUF 138.5 bln in the red, but separate state funds were HUF 168.4 bln in the black, news agency MTI reports.

The ministry attributed the July surplus to government measures taken this year improving the room for fiscal manoeuvre by around HUF 1 tln.

Interest expenditures came to HUF 2.217 tln in January-July, up HUF 700.9 bln from the same period a year earlier.

Revenue from taxes and contributions climbed 9.9% from the base period.

The ministry affirmed the government’s commitment to improving balance indicators and said the 4.5%-of-GDP deficit target for the year was achievable.

“With the improvement of fiscal room for maneuver, the economy will return to the sustainable growth path,” it said.

Figures

VC Investments in CEE at EUR 940 mln in Q2 2024 – Vestbee

World

American Hungarian Diaspora Org Sets Sights on Young People

Energy Trade

Ganz’s Giant Transformer to Connect Hungarian and Eastern European Power Grids

Budapest

Karácsony: Budapest Ready for Flood Wave

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For over 30 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.