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BUDGET POSTS SURPLUS AT END-JANUARY, MINISTRY CONFIRMS

 

Hungary’s cash flow-based budget, excluding local councils, ran a 244.5 billion forints (EUR 770.4m) surplus at the end of January, the finance ministry confirmed in a detailed reading of data. The central budget surplus reached 186.5 billion forints. Separate state funds were 23.0 billion in the black and the social insurance funds had a 35.0 billion forint surplus. The government targets a cash flow-based deficit of 998.4 billion forints for the full year. Relative to GDP, the deficit target stands at 1.8%, calculated according to the European Union’s accrual-based methodology.