The finance ministry has confirmed that Hungary’s cash-flow-based budget, excluding local councils, had a HUF 255.7 billion (EUR 627.6m) surplus in July. The budget deficit narrowed to HUF 2,636.5 billion, 83.6 percent of the full-year target, from the end of June. The central budget deficit reached HUF 2,729.5 billion at the end of July. The social security funds were HUF 125.8 billion in the red, while the separate state funds had a surplus of HUF 218.8 billion. The ministry said revenues were 22.6 percent higher in January-July than in the base period, while expenditures were up 25.3 percent.
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