Hungary meets 2010 budget gap target of 3.8% of GDP.

By bne IntelliNews January 10, 2011
Hungary's cash flow-based general government deficit, excluding local councils, stood at HUF 869.8bn in 2010, or 3.2pc of GDP, portfolio.hu reported quoting economy ministry data. Thus, the country met its target for a general government deficit calculated according to the European budget accounting-based (ESA95) at 3.8% of GDP. The ministry attributed the achievement to its crisis measures, including fiscal savings, crisis taxes and nationalisation of the private pension fund assets. The measures resulted in additional HUF 420mn in revenues, while the strict spending generated another HUF 200-250bn in savings.

Read in IntelliNews Pro
Get IntelliNews Pro

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

Most Read

  1. INTERVIEW: de Villepin says Ukraine should declare itself neutral
    8 days ago
  2. INTERVIEW: The quiet thunder of Ruben Vardanian
    8 days ago
  3. Moldova's Ascom moves ahead with recovering $500mn from Kazakh state
    7 days ago
  4. KRUK REPORT: Is Ukraine changing its Donbas policies?
    3 days ago
  5. MOSCOW BLOG: Russia’s import substitution has not been a great success
    6 days ago
  1. STOLYPIN: Russia balances wargames with mindgames in Zapad exercises
    26 days ago
  2. Russia to bring in record breaking harvest of 127mn tonnes
    18 days ago
  3. Investors ask which Russian bank domino will be the next to topple
    24 days ago
  4. Eastern Europe’s blockchain revolution
    11 days ago
  5. INTERVIEW: de Villepin says Ukraine should declare itself neutral
    8 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

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