Hungary's budget deficit HUF 2,710 billion at end of April
Meanwhile, KSH said in a first reading of data on Tuesday that Hungary’s trade balance posted a surplus of 899 million euros in March, up from 581 million in February.
Meanwhile, KSH said in a first reading of data on Tuesday that Hungary’s trade balance posted a surplus of 899 million euros in March, up from 581 million in February.
The Hungarian government's goal is to secure growth of 1.5% this year following a 4.5% growth in 2022, notwithstanding the mounting economic challenges.
“The budget ensured, to the full extent, the resources necessary to restart the economy and the defense against the pandemic,” the finance ministry said.
Finance Minister Mihály Varga said the government has saved HUF 755 billion by postponing several public investments.
“The government is continuing its crisis management based on support for families, tax cuts and investment incentives", the finance ministry said.
“Recent measures aimed to support investments, job creation and families have left significant resources in the economy,” the ministry said.
Spending on pandemic-related measures exceeded HUF 398.8 billion by the end of April.
According to data released by the Central Statistics Office, Hungary's central budget deficit was 2.2 percent of the gross domestic product last year, 934 billion HUF (2.9 billion EUR)
Hungary’s GDP growth is now approaching the second highest in the EU, in a year that saw record-low unemployment and rising real wages.
Hungary’s cash flow-based budget, excluding local councils, ran a 1,842.4 billion HUF (5.7b EUR) deficit at the end of November