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BUDGET DEFICIT 51.2 PC / FY TARGET IN AUGUST

 

Hungary’s cash flow-based budget, excluding local councils, ran a 510.8 billion forint (EUR 1.55bn) deficit at the end of August, the finance ministry said in a preliminary release. The deficit hit 51.2% of the 998.4 billion forint full-year target. The central budget ran a 589.3 billion forint deficit at the end of August, while separate state funds were 81.8 billion forints in the black and the social insurance funds were 3.3 billion forints in the red. The ministry said the full-year deficit target of 1.8% of GDP, calculated according to the EU’s accrual-based accounting rules, continues to be achievable.