Hungary’s Budget Posts 244 Billion Forint Surplus In January

  • 11 Feb 2019 10:49 AM
  • Hungary Matters
Hungary’s Budget Posts 244 Billion Forint Surplus In January
Hungary’s cash-flow-based budget, excluding local councils, showed a 244 billion forint (EUR 764.5m) surplus in January, the finance minister said.

“We’re seeing one of those rare occasions of the past 20 years when advance payouts have left a surplus, rather than a deficit, in the budget,” Mihály Varga told current affairs channel M1, commenting on the data. The deficit target for the full year is 998.4 billion forints.

Varga said tax revenues in January were 200 billion forints higher than in the same month a year ago. Hungary received transfers of more than 200 billion forints from the European Union, and the government has made some 90 billion forints’ worth of payments for EU projects, he said.

The minister said the government’s 1.8%-of-GDP deficit target for the full year, calculated according to EU accounting rules, was achievable.

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this twice-daily newsletter covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI. Click the title above for more info, and to subscribe.

Explore More Reports