Hungary’s cash flow-based budget deficit, excluding local councils, reached 1,043.6 billion forints at the end of April, narrowing from the previous month on a 100.5 billion April surplus, the Finance Ministry confirmed in a detailed reading of data released on Friday. Spending on pandemic-related measures exceeded 398.8 billion forints by end-April, the ministry said.
Other expenditures included 86.1 billion forints in grants to boost competitiveness amid the coronavirus crisis among other items. Amendments to the 2021 budget submitted by the government in April raise the full-year cash flow-based deficit target to 2,287.7 billion forints. The detailed report shows that payouts for EU-funded projects came to 743.4 billion forints at the end of April, while transfers from Brussels were 153.5 billion. The central budget shortfall was 890 billion forints at the end of April, while the social insurance funds were 139.1 billion in the red and separate state funds showed a 14.5 billion deficit.
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