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KSH: Hungary’s 2014 general government deficit 2.6% of GDP

Hungaryʼs general government deficit calculated according to Maastricht criteria, came to HUF 829.1 bln last year, which is 2.6% of GDP, preliminary data released by the Central Statistics Office (KSH) reveal today.

According to KSH’s data, the deficit in the last quarter of  2014 reached HUF 192.8 bln, 2.4% of the GDP. The full-year deficit grew by HUF 95.4 bln, 0.1 percentage points of GDP, as compared to the previous year.

KSH data suggest that budget debt stood at HUF 24.525 trillion at the end of 2014, or 76.9% of GDP. KSH claims it reported these data to Eurostat in line with EDP (Excessive Deficit Procedure) rules.