Stimulus lifts budget deficit to HUF 1,803.7 bn in July, ministry confirms

Hungary's cash flow-based budget deficit, excluding local councils, was 1,803.7 billion forints (EUR 5.14bn) at the end of July, widening on stimulus measures, the finance ministry confirmed in a second reading of data on Thursday.

The deficit reached 78.8 percent of the 2,287.7 billion forint full-year target.

The central budget ran a 1,620.9 billion forint deficit at the end of July, the social insurance funds were 221.9 billion forints in the red, and the separate state funds had a 39.1 billion forint surplus. The deficit widened by 99.2 billion from the end of June.

Revenues were up 1,372.0 billion forints, or 11.0 percent during the period, while expenditures increased by 1,010.7 billion, or 6.9 percent compared with the first seven months of 2020, the ministry said.

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