Eurostat revises upwards public finance deficit of Hungary for 2009.

By bne IntelliNews April 23, 2010
The budget deficit of the general government, according to the accrual-based ESA95 methodology, amounted to HUF 1.1tn (EUR 4.1bn) in 2009 and increased by 4% y/y in 2009, Eurostat reported. This represented a slight upward revision of HUF 20bn from the preliminary deficit figures, reported by the statistics office (KSH) in the beginning of April. At the same time, the deficit remained unchanged at 4% of GDP for the year due to the small magnitude of the adjustment. For the same reason, available data makes it impossible to trace the sources of the deficit revision to the revenues or expenditures since Eurostat reported only figures in terms of GDP ratios and they were identical to the earlier KSH publication. In particular, the budget revenues in 2009 increased by 0.4pps y/y to 45.8% of GDP while budget spending expanded at a faster pace of 0.6pps y/y to 49.8%. Government debt stood at HUF 20.4tn at the end of the year, representing 78.3% of GDP. It expanded by 5.4pps y/y due to the nominal decline of GDP as well as the registered public finance deficit during the year.

Related Articles

Assets of Hungarys investment funds up 3.2% m/m in Feb 2013.

Hungary's investment funds had aggregate assets of HUF 3.657tn (EUR 11.98bn) as of end-February 2013, up by 3.2% m/m, MTI news agency reported citing data from the association of investment funds ... more

Hungary's number of employees down 0.6% y/y in Jan 2013.

The number of employees in Hungary's public and private sectors fell for the tenth straight month in January 2013 declining by 0.6% y/y to 2.574mn, the statistics office informed. The decline ... more

Hungarys MVM clears deal for purchasing E.ONs local units.

The assembly of state-owned Hungarian Electricity Works (MVM) has approved the purchase of the local gas business of German power utility E.ON, Hungary AM reported, citing local daily Magyar ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335