Compared to Q1 2022, revenues went up by HUF 607 billion or by 9.2%. The largest, HUF 415 billion (15.6%) increase in value was recorded in taxes on production, primarily due to the special taxes introduced during 2022.
VAT revenue growth was HUF 129 billion (8.8%). Revenues from taxes on income were HUF 169 billion (16.4%) higher than a year earlier. Social contributions increased by HUF 186 billion (by 11.9%). Other revenues decreased by HUF 164 billion (by 12.2%).
Expenditures increased by HUF 1.872 trillion or by 26.5%.
The reduction in case of paid compensation of employees was HUF 151 billion (8.2%), being impacted by the payment of the six-month ‘firearms money’ in the base period as well.
Social benefits other than social transfers in kind rose by HUF 436 billion (by 23.4%), owing mainly to increased amounts of paid-out pension benefits.
Intermediate consumption surpassed by HUF 153 billion (by 13.6%) the previous year’s value, and interest expenditures grew by HUF 395 billion (by 113%).
Gross fixed capital formation decreased by HUF 46 billion (by 9.8%). Other general government sector expenditures went up by HUF 1.085 trillion (by 77.3%) year-on-year, mainly due to a sharp increase in subsidies for energy supplier companies.
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