Finance Minister Mihaly Varga – Photo: MTI

Finance Minister: Government successful in taming budget

After a surplus in September, the budget posted a surplus of over 100 billion forints (EUR 248m) in October, the third largest October surplus in the past 20 years, Mihaly Varga, the finance minister, said on Wednesday.

Varga said on Facebook the budget posted a surplus of 101.3 billion forints in October.

He added that the government was pursuing fiscal discipline in the face of the “sanctions crisis” while also guaranteeing the scheme to cap energy bills and preserving family benefits as well as the value of pensions.

The finance ministry said the monthly surplus brought the January-October deficit to 2,590.4 billion forints.

The central budget deficit amounted to 2,683.9 billion at the end of October. The social security funds were 195.7 billion forints in the red, while the separate state funds had a surplus of 289.2 billion.

The full-year cash flow-based general government deficit target is 3,152.7 billion forints.

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