Government deficit at 85.8% after good September
Hungary's cashflow-based general government deficit, excluding local councils, had a HUF 14.2 bln surplus in September, narrowing the gap to HUF 844.6 bln or 85.8% of the full-year target, the National Economy Ministry confirmed in a second reading of data yesterday.
The ministry's statement shows the central budget deficit reached HUF 1.0368 trillion by the end of September, while the social security funds and separate state funds had surpluses of HUF 157.9 bln and HUF 34.3 bln, respectively. The ministry noted the favourable effect on the budget balance in September of more revenue from the pick-up in economic growth, the expansion of employment and the mandatory connection of tills to the tax office.
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