The budget deficit stood at HUF 517.7 billion (EUR 1.81 billion) at the end of June, 89.8 per cent of the full-year target, the National Economy Ministry has announced. The cashflow-based government deficit figures, excluding local council finances, confirm preliminary data released on 5 July. Both revenue and spending were lower than expected in the first half of the year, with revenue, at 47.3 per cent of the target figure, falling furthest short. Hungary is still expected to close the year with a deficit of between 2.5 and 3 per cent, state news agency MTI reported on Monday citing analysts. The official government target is 2.5 per cent of GDP.
