Hungary revises upwards Maastricht budget deficit to 4.4% of GDP in 2009.

By bne IntelliNews October 4, 2010
Hungary's general government deficit was revised upwards to HUF 1,156.3bn in 2009, according to the latest excessive deficit procedure notification table according to the Maastricht rules, provided by the statistics office (KSH). The fiscal gap accounted for 4.4% of GDP, up from 4% of GDP reported in April. This upward revision was due to changes in the accounting of EU revenue and capital outlays. The ESA95 deficit, which differs from the Maastricht deficit in the accounting of swap transactions, stood at HUF 1,136bn, up by 9.8% than the first reading reported to Eurostat in April. According to the revision, the government revenues rose by HUF 63bn to HUF 12,012bn and the expenditures - by HUF 164bn to HUF 13,148bn.

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