Government deficit reaches HUF 1.312 tln
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Hungary's cash flow-based general government deficit, excluding local councils, reached HUF 1.312 trillion at the end of May, widening on stimulus measures, the Ministry of Finance confirmed in a detailed release of data on its website yesterday.
"The development of growing expenditures was influenced mainly by items necessary for re-starting the economy," the ministry said.
"The aim of the government is to get everybody put in a difficult situation because of the pandemic back on their feet," it added.
The ministry said Hungary's quarter-on-quarter GDP growth of 2% in Q1 shows that the "economic defense and economic recovery measures taken so far have worked."
The central budget deficit reached HUF 1.171 tln at the end of May. The social insurance funds were HUF 155 bln in the red, but the separate state funds had a surplus of HUF 13.4 bln.
In May alone, the general government deficit came to HUF 269 bln.
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