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FinMin stands by Jan-Sep, full-year deficit targets after release of detailed data

Neither the January-September projection nor the full-year forecast for the general government deficit have to be changed based on detailed figures from July, Finance Ministry State Secretary Tamás Katona said. The ministry confirmed preliminary figures for July and published a detailed report.

The January-July cash flow-based general government deficit, without local councils, was HUF 815.8 billion. The ministry projects a January-September deficit of HUF 1,067.7 billion, or 4.1% of GDP, and stands by its full-year target of HUF 991.8 billion, or 3.8% of GDP. (The ministry stopped publishing monthly forecasts in June and now releases only quarterly projections.)

The general government deficit was HUF 1.2 billion in July, as the central budget had a HUF 10.7 billion surplus, separate state funds had a HUF 6.4 billion surplus and the social insurance funds had a deficit of HUF 18.3 billion.

In January-July, the central budget deficit was HUF 703.2 billion, HUF 158.5 billion less than in the same period a year earlier. The combined deficit of the pension and health fund rose to HUF 133.8 billion from HUF 73.4 billion. (MTI-Econews)