ADVERTISEMENT

General Gov't Deficit at HUF 3.488 tln in October

Debt

Image by Shutterstock.com

Hungary's cash flow-based general government deficit reached HUF 3.488 trillion at the end of October, the Ministry of Finance confirmed in a detailed release of data on its website.

The central budget deficit reached HUF 3.51 tln at the end of October, and the social security funds were HUF 142.3 billion in the red. Separate state funds had a HUF 164.4 bln surplus.

The ministry acknowledged extraordinary expenditures resulting from the unfavorable global economic environment and the energy crisis caused by the protracted war in Ukraine and Brussels' sanctions policies but said the budget would "guarantee" the preservation of the value of pensions as well as the continuation of family subsidies and the regulated price system for household utilities.

"An important goal of the government is to continue reducing the deficit and state debt level from year to year," it added.

Opportunity in Domestic Cultivation of Berries Crops

Opportunity in Domestic Cultivation of Berries

Hungary Urges European Space Research Strategy EU

Hungary Urges European Space Research Strategy

Hungary's Largest Speculative Industrial Property Nearing Co... Logistics

Hungary's Largest Speculative Industrial Property Nearing Co...

White Party at The Duchess Coming This Weekend Drinks

White Party at The Duchess Coming This Weekend

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.