Budget deficit reaches HUF 2,604 bn at the end of October

Hungary's budget deficit, excluding local councils, reached 2,604.2 billion forints (EUR 7.2bn) at the end of October, the finance ministry said in a preliminary release of data on Monday.

The central budget deficit reached 2,140 billion forints, the social insurance funds were 489.9 billion in the red and separate state funds had a 25.7 billion surplus.

The deficit has swelled this year because of pandemic defense spending, economic stimulus and pre-financing for European Union-funded projects.

The deficit rose from 2,270.3 billion forints at the end of September.

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