Gov't Deficit Reaches HUF 4.593 tln

Debt

Image by Shutterstock.com

Hungary's cash flow-based government deficit reached HUF 4.5934 trillion at the end of December, the Ministry of Finance said in a preliminary reading of data released on its website this week.

The central budget deficit reached HUF 4.293 tln at the end of the month, and the social security funds were HUF 412.3 billion in the red.

Separate state funds had a HUF 112.3 bln surplus. The government deficit widened from HUF 4.074 tln at the end of November, but the ministry noted that the full-year gap was under 2022's HUF 4.672 tln.

The finance ministry said the war, the energy crisis resulting from sanctions policies, and the high-risk global economic environment had put the budget under "significant pressure."

Despite the unfavorable circumstances, the 20223 budget had ensured the preservation of the value of pensions, the continuation of family subsidies and the regulated utility price scheme for households and would do so again in 2024, it added.

ADVERTISEMENT

MBH Bank Introduces MREL-eligible Bonds on BSE Banking

MBH Bank Introduces MREL-eligible Bonds on BSE

Lawmakers to Vote Monday on New President Parliament

Lawmakers to Vote Monday on New President

Wider Margins Lift Magyar Telekom Earnings Telco

Wider Margins Lift Magyar Telekom Earnings

Hungarians Prioritizing Travel Over Renovations This Year Tourism

Hungarians Prioritizing Travel Over Renovations This Year

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.