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Gen govʼt shows January surplus

Hungaryʼs cash flow-based general government balance, excluding local councils, had a HUF 90.4 billion surplus in January, the Finance Ministry said in a preliminary reading of data released Friday, Hungarian news agency MTI reports.

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The central budget was HUF 40.8 bln in the black, while separate state funds and social insurance funds had surpluses of HUF 25.7 bln and HUF 23.9 bln, respectively. 

The 2020 budget act targets a full-year deficit of HUF 367 bln.

The ministry noted that the general government balance showed a surplus in January of last year, too.

"The Hungarian economy may have grown by around 5% last year, laying the foundation for the general government surplus in the first month of this year," the ministry said.