General Gov’t Balance at HUF 2.896 tln in June

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Hungary's cash flow-based general government balance reached HUF 2.896 trillion at the end of June, the Ministry of Finance said in a first release of data on its website.

The central budget deficit reached HUF 2.908 tln at the end of June, and the social security funds were HUF 78.1 billion in the red. Separate state funds had a HUF 90.4 bln surplus.

In the month of June alone, the deficit was HUF 132.7 bln, the narrowest gap for the month in eight years, the ministry said.

It noted that expenditures related to the regulated utility price scheme for households had come to HUF 969.2 bln by the end of June. Expenditures on home subsidies reached HUF 330.7 bln in January-June, climbing by HUF 60.2 bln from the base period.

"During wartime, the government's primary goal is the defense of families and workplaces, and preserving the value of pensions, for which the budget will ensure all necessary resources," the ministry said.

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