General Gov't Balance Reached HUF 2.763 tln

Figures

Hungary's cash flow-based general government balance reached HUF 2.763 trillion at the end of May, the Ministry of Finance said in a first release of data on its website this week.

The ministry acknowledged that the deficit had risen faster during the first half of the year because of "known trends and one-off expenditures."

The central budget deficit reached HUF 2.752 tln at the end of May and the social security funds were HUF 67.3 billion in the red. Separate state funds had a HUF 56.5 bln surplus.

In May alone, the deficit reached HUF 53.6 bln, the lowest May deficit in seven years, the ministry said.

The ministry noted that expenditures related to the regulated utility price scheme for households came to HUF 894.6 bln by the end of May.

Expenditures on home subsidies reached HUF 320.3 bln in January-May, climbing by HUF 95.7 bln from the base period on higher payouts for home renovations.

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