Are you sure?

Hungary general government deficit 6.2% of GDP in Q2

Hungary ran an ESA95 general government deficit of HUF 413 billion or 6.2% of the quarter's GDP in Q2 2010, up HUF 182 billion or 2.6 percentage points of GDP from the same period of 2009, the Central Statistics Office (KSH) said based on national account statistics on Friday.

The deficit amounted to HUF 711 billion in the first half of 2010, or 5.4% of GDP, up HUF 151 billion or 1.0 percentage point of GDP yr/yr.

The deficit ratios compare to a 3.8%-of-GDP ESA deficit target for the full year.

General government revenues were down 4.2% yr/yr in Q2 2010 and general government expenditures rose 1.6%.

In the first half of 2010, general government revenues were down 1.3% yr/yr and general government expenditures rose 1.1%. (MTI-ECONEWS)