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Social security funds contribute Ft 12.328 bln to August general government deficit

Hungary's social security funds accounted for Ft 12.328 billion of the Ft 134.9 billion general government deficit in August, figures published by the Finance Ministry on Tuesday show. The pension and health funds ran a deficit of Ft 175.038 billion in January-August, 72.8% of the Ft 240.8 billion full year forecast. However, the January-August deficit was still narrower than the Ft 269.331 billion deficit of the funds in the same period in 2005. The health fund deficit accounted for Ft 11.8 billion of the August general government deficit and the pension fund deficit accounted for Ft 500 million. The biggest overshoot in the health fund was for drug price subsidies. Drug price subsidies reached Ft 256.83 billion in January-August, already 86.2% of the annual target.

In January-August 2005, expenditures for drug price subsidies reached Ft 227.041 billion. Expenditures in this area for the whole year came to Ft 348.869 billion. Disability payments from the health fund came to Ft 138.26 billion in January-August, 70.3% of the annual target. Of this, the biggest expenditure was Ft 66.6 billion for sick leave, already 69.4% of the annual target. The social security funds had revenue of Ft 2,310.3 billion in January-August, 66% of the annual target. Of this amount, Ft 557.885 billion came from the central budget, also 66% of the annual target. Central budget funding covers things such as health insurance payments for university students and parents on child leave. (Mti-Eco)