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Preliminary fiscal deficit Ft 70.2 bln in September

Hungary had a cash flow-based general government deficit, excluding local councils, of Ft 70.2 billion in September after Ft 134.9 billion in August, the Finance Ministry announced on Monday.

The figure compares with the ministry's Ft 142.7 billion deficit forecast released on September 19. The central budget ran a Ft 56.3 billion deficit in September following Ft 125.3 billion deficit in August, compared to a Ft 123.6 billion forecast.
The social insurance funds had a deficit of Ft 14.3 billion in September after Ft 12 billion in August as compared to a deficit forecast of Ft 15.2 billion. The separate state funds had a surplus of Ft 400 million compared to Ft 4 billion deficit forecast of the ministry.
The September figure brings Hungary's general government deficit to Ft 1,457.2 billion for the first nine months of the year, or 6.3% of projected GDP. The ministry projected a nine-month deficit of Ft 1,529.7 billion, at 6.6 % of GDP. The ministry raised the full-year cashflow-based general government deficit target from Ft 1,545.8 billion to Ft 1,769.8 billion or to 7.6% of GDP in June.