Hungary’s budget deficit, excluding local councils, was 3,298.1 billion forints (EUR 9.3bn) at the end of November, lifted by pandemic spending, the finance ministry confirmed in a detailed release of data.
The ministry said the cash flow-based deficit is expected to reach 8-9% of GDP this year. The government is setting a deficit target of 6.5% of GDP for 2021, in light of economic stimulus measures, it added. The central budget deficit reached 2,778.4 billion forints at the end of November. The social security funds were 572.7 billion forints in the red and separate state funds had a surplus of 53.0 billion forints.
hungarymatters.hu
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