Hungary’s cash flow-based budget, excluding local councils, had a 90.4 billion forint (EUR 266m) surplus in January, the finance ministry said in a preliminary reading of data. The central budget was 40.8 billion forints in the black, while separate state funds and social insurance funds had surpluses of 25.7 billion forints and 23.9 billion forints, respectively. The 2020 budget act targets a full-year deficit of 367.0 billion forints. The ministry noted that the budget showed a surplus in January of last year, too.
“The Hungarian economy may have grown by around 5% last year, laying the foundation for the budget surplus in the first month of this year,” the ministry said.