Budget Deficit Close to 80% of Full-Year Target

Hungary’s cash flow-based budget, excluding local councils, ran a 1,081.4 billion forint (EUR 3.4bn) deficit at the end of April, the economy ministry said in a preliminary release. Pre-financing for EU projects drove the rise, the ministry said.

The deficit reached 79.5% of the 1,360.7 billion forint full-year target. The central budget was 1,119.5 billion forints in the red and separate state funds had a 7 billion deficit. The social insurance funds had a surplus of 45.1 billion forints. Alone in the month of April, budget deficit came to 209.4 billion forints.

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