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JAN-JULY BUDGET DEFICIT 35.3% / FY TARGET, MINISTRY CONFIRMS

 

Hungary’s cash flow budget deficit, excluding local councils, was 352.7 billion forints (EUR 1.1bn) in the red at the end of July, or 35.3% of the 998.4 billion full-year target, the finance ministry said, confirming preliminary data. The full-year deficit target of 1.8% of GDP, calculated according to European Union accounting rules, “remains achievable”, the ministry said. In July alone, the budget, excluding local councils, posted a 37.2 billion forint surplus. Last year, the July deficit was 70.4 billion and the shortfall in the first seven months was 1,491 billion.