Government deficit reached HUF 2.309 tln in March

Debt

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Hungary's cash flow-based general government deficit, excluding local councils, reached HUF 2.309 trillion at the end of March, the Ministry of Finance confirmed in a detailed release of data on its website.

"In the current situation of war, it is of crucial importance that Hungary's economy and budget remain stable, and that households do not bear the burden of the war," the ministry said.

"The budget must continue to manage, as a priority, border defense, assistance for refugees, family support and maintaining tax reductions," it added.

The central budget deficit reached HUF 2.331 tln at the end of March. The social security funds were HUF 17.2 billion in the red, while the separate state funds had a surplus of HUF 39.2 bln.

The full-year cash flow-based general government deficit target is HUF 3.152 tln. The ministry said expenditures on home subsidies and pensions were higher in January-March than in the base period.

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