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Government sector deficit 3.1 percent of GDP in Q2

Hungary's government sector had a 570 billion forint (EUR 1.5bn) deficit in the second quarter, equivalent to 3.1 percent of GDP, according to preliminary data released by the Central Statistical Office (KSH) on Tuesday.

Government sector revenue rose by 16.0 percent, while expenditures grew by 19.6 percent. Nominal revenue growth was 1,121 billion forints, while expenditures were up 1,429 billion forints.

For the first half, government sector deficit came to 2,296 billion forints, or 6.3 percent of GDP.

Revenue rose by 11.7 percent to 15,366 billion forints and expenditures by 22.4 percent to 17.662 billion.

Revenue from taxes on production increased by 13.9 percent, or 790 billion forints.

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