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February fiscal deficit at HUF 294.5 bln

Excluding local governments, Hungary posted a cash flow-based general government deficit of HUF 294.5 billion in February after a HUF 37.8 billion surplus in January, the Finance Ministry said based on preliminary figures.

The two-month general government deficit was HUF 256.6 billion this year, far above the HUF 182.1 billion deficit in the same period last year.

The February deficit is a slight HUF 0.4 billion smaller than the ministry's forecast released on February 17.

The central budget deficit came to a preliminary HUF 273.6 billion last month, down from the forecast HUF 283.3 billion. Including a HUF 11.6 billion surplus in January, the two-month budget deficit came to HUF 262 billion, practically the same as the HUF 261 billion recorded in the first two months last year.

The two social-insurance funds ran a combined deficit of HUF 31.5 billion in February after a HUF 5.3 billion surplus in January. The two-month deficit in social-insurance funds stood at HUF 26.1 billion this year as opposed to a HUF 38 billion surplus in the same period last year.

The separate state funds ran a HUF 31.5 billion surplus in the first two months of the year, up from HUF 20.9 billion in January. (MTI – Econews)