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BUDGET DEFICIT CLOSE TO HUF 2,636 BN AT END-APRIL

 

Hungary’s cash flow-based budget deficit, excluding local councils, reached 2,635.6 billion forints (EUR 6.9bn) at the end of April, the finance ministry said in a preliminary release of data on Monday. The deficit widened from 2,309.4 billion forints at the end of March. The full-year cash flow-based budget deficit target is 3,152.7 billion forints.
The ministry reiterated the government’s commitment to “improving balance indicators” in the release. “In the unpredictable global economic environment caused by the war, Hungary’s stability must be preserved,” it said. The ministry affirmed it expects the accrual-based general government deficit, relative to GDP, to reach 4.9% this year, while the year-end state debt ratio declines to 76.1%. It calculates with GDP growth of 4.3%.