Are you sure?

Hungary gov't submits bill on implementation of 2009 budget

The Hungarian government has submitted to Parliament the bill on the implementation of the 2009 budget with revenue of HUF 8,324.2 billion, expenditures of HUF 9,067.9 billion and a deficit of HUF 743.7 billion, the bill published on the parliament website on Friday indicates.

The 2009 budget was approved by parliament on December 15, 2008, with total revenues of HUF 8,300.2 billion, expenditures of HUF 8,961 billion and a deficit of HUF 660.8 billion.

The figures show that actual revenues exceeded the target by HUF 24 billion, while expenditures exceeded the target by HUF 107 billion. The deficit was almost HUF 83 billion higher than originally targeted.

The budget was based, however, on significantly different economic conditions. It envisaged a 1% contraction of the GDP; the final GDP figure for 2009 was minus 6.3%. Inflation was targeted at 4.5%, and the actual figure came out at 4.2%. (MTI-Econews)