Hungary’s cash-flow budget deficit, excluding local councils, was 2,292 billion forints (EUR 6.3bn) at the end of September, the finance ministry confirmed in a detailed reading of data on Friday.
The shortfall widened by 391.3 billion forints from a month earlier. “The outstanding growth of the Hungarian economy in the European Union as well as the record-high employment data show that crisis management based on tax cuts, investment incentives and support for families is working,” the ministry said, adding the government would carry on with economic stimulus and ensure all of the necessary resources to do so. The central budget deficit came to 2,066.7 billion forints at the end of September, while the social security funds were 253.9 billion in the red.
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