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March budget deficit HUF 2,321 billion

Hungary's cash-flow budget deficit was 2,321.4 billion forints at the end of March, the finance ministry said on Tuesday in a first release of data.

The central budget posted a shortfall of 2,338.3 billion at the end of the month, while social security funds were 61.7 billion in the red. Separate state funds showed a 78.6 billion surplus.

The budget posted a deficit of 1,704.0 billion at the end of February.

Interest spending, including large payments on retail government securities, came to 1,241.3 billion forints in January-March, up 604.0 billion from the same period a year earlier, the ministry said. Spending on maintaining the regulated utilities price system for households reached 461.3 billion, it added.

“The government’s goal is to put the economy on a path of sustainable growth, while continuing to reduce budget deficit and state debt levels,” the ministry’s statement said, adding that the government targets a budget shortfall of 4.5 percent of GDP in 2024, 3.7 percent in 2025 and a 2.9 percent deficit in 2026.


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