Hungary’s cash flow-based based budget, excluding local councils, had a 198.8 billion forint (EUR 556.8m) surplus at the end of January, the finance ministry said.
The ministry said the January surplus is “not uncommon” and attributed it to seasonal effects. The central budget had a 180.5 billion forint and the separate state funds a 22.4 billion forint surplus, but the social insurance funds were 4.1 billion forints in the red. The ministry added that the budget is expected to finish the year with a deficit equivalent to 6.5% of GDP, calculated according to the European Union’s accrual-based accounting rules.
hungarymatters.hu
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