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Government sector deficit reaches 6.1 percent of GDP in Q1

Hungary's government sector ran a 788 billion forint (EUR 2.24bn) deficit in the first quarter, equivalent to 6.1 percent of GDP during the period, the Central Statistical Office (KSH) said on Thursday.

The deficit widened from the same period a year earlier on the economic impact of the pandemic and government measures to shield against fallout from the coronavirus crisis, KSH said.

Revenue rose by 3.1 percent year-on-year to 5,008 billion forints. Expenditures climbed 16.3 percent to 5,796 billion forints.

KSH noted that “other expenditures” jumped by 32.7 percent to 1,342 billion forints, boosted by policy measures to ease the economic impact of the pandemic.

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