Data released by the Central Statistical Office (KSH) show that Hungary’s government sector deficit reached HUF 1,570 billion (EUR 4.3bn) in Q1-Q3, equivalent to 3.9 percent of GDP. Government sector revenue rose by an annual 8.9 percent to HUF 16,468 billion during the period.
The figures show that expenditures increased by 7.6 percent to HUF 18,039 billion. On the revenue side, VAT rose by 16.9 percent to HUF 3,872 billion and revenue from taxes on production and imports climbed by 9.7 percent to HUF 6,861 billion. Social security contributions increased by 6.3 percent to HUF 4,211 billion. On the expenditure side, spending on wages rose by 6.3 percent to HUF 4,053 billion and social pay-outs increased by 7.7 percent to HUF 4,275 billion. Intermediate consumption expenditures climbed by 11.6 percent to HUF 3,071 billion.
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