Gen Gov't Has January Surplus
Photo by Patrick Daxenbichler / Shutterstock.com
Hungary's cash flow-based general government had a HUF 54.4 bln surplus at the end of January, the Finance Ministry said in a preliminary release of data this week.
The central budget had a deficit of HUF 37.4 bln at the end of the month, but the social security funds had a HUF 50.2 bln surplus and the separate state funds were HUF 41.6 bln in the black.
The ministry noted that the budget had ensured resources for a 6pc pension rise as well as the continuation of the regulated price scheme for household utilities and family subsidies.
"The government aims to strengthen growth this year, while continuing to reduce budget deficit and state debt levels," it added.
The ministry noted that expenditures related to the regulated utilities price scheme for households had come to HUF 181.3 bln in January.
European Union transfers reached HUF 226 bln, up from HUF 34.6 bln in the base period, as a suspension of some of Hungary's EU funding was lifted after the country complied with the European Commission's conditions regarding judicial reforms.
Achieving Deficit Targets 'Crucial' - Rate-setters
EU Affairs Ministry, AmCham Sign Strategic Partnership Deal
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
