Finance Ministry: Health and economy protection measures increase budget deficit in Hungary

English2020. szept 27.Növekedés.hu

Virus control and economy protection measures require significant resources from the budget, so by the end of August the deficit of the central government sub-system excluding local governments reached 2,261 billion forints.

In the first eight months of the year, healthcare equipment purchases related to the epidemic amounted to more than 553 billion forints, and the government spent 150.6 billion on support to enhance competitiveness, which became necessary as a result of the pandemic.

By the end of August, revenues of the central sub-system had increased to 14,262 billion forints, which is 804.9 billion (6.0 percent) more than in the same period of the previous year. Expenditure increased by 2,555 billion, or 18.3 percent, to 16,523 billion.

The central budget closed the first eight months of the year with a deficit of 1,873.1 billion, social insurance funds with a deficit of 385.9 billion and segregated state funds with a deficit of 2.3 billion forints.