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August general gov't deficit preliminary HUF 97.7 bln’

Hungary had an HUF 97.7 billion cash flow-based general government deficit, excluding local councils, in August, preliminary figures published by the Finance Ministry show.

The January-August fiscal deficit reached HUF 913.5 billion or 92.1% of the full-year target. The Finance Ministry forecasts a HUF 1,067.7 billion fiscal deficit in Q1-Q3, allowing for a HUF 154.2 billion deficit in September. It forecasts a HUF 75.9 billion surplus for Q4.

The full-year cash-flow based general government deficit, without local councils, is targeted at 3.8% of GDP down from 4.1% in January-September.

The central budget deficit was HUF 54.9 billion in August and HUF 758 billion in January-August, down from HUF 772 billion in the same period a year earlier. The deficit in the social insurance funds was HUF 28.9 billion in August, up from HUF 18.3 billion in July. (MTI – Econews)