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BUDGET DEFICIT 39.1% / FY TARGET AT END-JUNE

 

Hungary’s cash-flow-based budget, excluding local councils, ran a 390 billion forint (EUR 1.2bn) deficit at the end of June, the finance ministry said in a preliminary release. The deficit hit 39.1% of the 998.4 billion forint full-year target. In June alone, the shortfall came to 213.6 billion forints. The central budget deficit was 467.3 billion forints in the first half of 2019, while the separate state funds and the social insurance funds had surpluses of 61.0 billion and 16.3 billion forints, respectively. The full-year accrual-based deficit target of 1.8% of GDP is “realistic and achievable”, while the public debt to GDP ratio continues to decline, the ministry said.