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General government deficit nears 70% of 2015 target

General government deficit nears 70% of 2015 target

BUDAPEST: Hungary’s cash flow-based general government deficit, excluding local councils, reached HUF 609.8 billion at the end of April, the National Economy Ministry said in a preliminary report yesterday, according to state news agency MTI.

The deficit rose to 69.5% of the HUF 877.4 billion full-year target, based on MTI calculations. The ministry noted that at the same time last year the deficit had reached HUF 951.2 billion. The central budget deficit came to HUF 643.6 billion for January-April. The social insurance funds and separate state funds had surpluses of HUF 23.6 billion and HUF 10.2 billion, respectively.