Gov't sector ran HUF 1.6 tln deficit in 2020

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Hungary's government sector ran a deficit of HUF 1.629 trillion in Q1-Q3, equivalent to 4.6% of GDP for the period, according to preliminary data released by the Central Statistical Office (KSH) yesterday.

The deficit swelled from the same period a year earlier because of the economic impact of the pandemic as well as government stimulus and spending on COVID-19 defense.

Revenue edged up 1% to HUF 15.076 tln, while expenditures jumped 10.2% to HUF 16.705 tln. In the third quarter Aaone, the government sector deficit reached HUF 487 billion, or 4.1% of GDP during the period. Revenue rose 5.6% to HUF 5.252 tln and expenditures climbed 7.2% to HUF 5.739 tln.

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