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Budget manages surplus of Ft 95 bln - Hungary

Ministry of Finance is expecting a general government surplus of Ft 95.1 billion (€387 million, $535 million) in July 2007 compared to Ft 33 billion in the H1 of 2006, Miklós Tátrai announced yesterday.

Government budget deficit is expected to be Ft 1,215 Billion (€4,94 billion $6,83 billion), 4.8% of the GDP by the end of September – not including the outcome of local governments -; and Ft 1,529 billion, 6% of the GDP, by the end of the year. The income from corporate taxes and VAT stayed below the expected level, while vehicle registration tax and personal income tax revenues exceeded it. Social security funds had a Ft 27.7 billion surplus by July 2007, compared to Ft 34 billion deficit expected for the period and the Ft 161.5 billion deficit accumulated in the H1 of 2006. (Gazdasági Rádió, Napi Gazdaság)