Gov't Deficit Reaches HUF 4.593 tln
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Hungary's cash flow-based government deficit reached HUF 4.5934 trillion at the end of December, the Ministry of Finance said in a preliminary reading of data released on its website this week.
The central budget deficit reached HUF 4.293 tln at the end of the month, and the social security funds were HUF 412.3 billion in the red.
Separate state funds had a HUF 112.3 bln surplus. The government deficit widened from HUF 4.074 tln at the end of November, but the ministry noted that the full-year gap was under 2022's HUF 4.672 tln.
The finance ministry said the war, the energy crisis resulting from sanctions policies, and the high-risk global economic environment had put the budget under "significant pressure."
Despite the unfavorable circumstances, the 20223 budget had ensured the preservation of the value of pensions, the continuation of family subsidies and the regulated utility price scheme for households and would do so again in 2024, it added.
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