General Gov't Deficit at HUF 3.488 tln in October
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Hungary's cash flow-based general government deficit reached HUF 3.488 trillion at the end of October, the Ministry of Finance confirmed in a detailed release of data on its website.
The central budget deficit reached HUF 3.51 tln at the end of October, and the social security funds were HUF 142.3 billion in the red. Separate state funds had a HUF 164.4 bln surplus.
The ministry acknowledged extraordinary expenditures resulting from the unfavorable global economic environment and the energy crisis caused by the protracted war in Ukraine and Brussels' sanctions policies but said the budget would "guarantee" the preservation of the value of pensions as well as the continuation of family subsidies and the regulated price system for household utilities.
"An important goal of the government is to continue reducing the deficit and state debt level from year to year," it added.
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