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09 Apr 2019, Petia Krasteva, EMIS Editor

Hungary’s Q1 general government budget gap reaches 14.2% of annual target

Hungary’s general government budget gap reached HUF 141.9bn (EUR 0.44bn) or 14.2% of the annual target in January-March, BBJ-Online reported citing data by the finance ministry. Out of the total sum the deficit of the central government budget was HUF 139.6bn and deficit in the social security account was HUF 1.4bn.

The ministry said the pre-financing of big EU projects impacted the numbers while tax receipts from VAT, payroll tax and excise tax have increased on the year.

The ministry said the government is on its way to achieving its target of a HUF 998.4bn or 1.8% of projected GDP deficit this year.

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