Hungarys general government budget deficit narrows 65.2% in Jan-Sep 2012.

By bne IntelliNews October 9, 2012
Hungarys cash-based general government budget, excluding municipalities, posted a HUF 545.8bn (EUR 1.9bn) deficit in January to September 2012, accounting for 94.7% of the full-year plan, preliminary data from the finance ministry showed. The gap narrowed by 65.2% from a year earlier as revenues grew by 10.3% y/y and expenditures declined by 0.6% y/y. The central government budget generated a deficit of HUF 628.9bn in the first nine months of 2012, down by 54% y/y. Revenues grew by 10.8% y/y and expenditures dropped by 1.4% on the year. Social security funds had deficit of HUF 18.7bn in Jan-Sep 2012, down by 93.3% y/y. The surplus on the extrabudgetary accounts reached HUF 101.8bn, up by 30.3% y/y. The deficit, adjusted for one-off items, amounted to HUF 670.8bn and equalled to 73.1% of the annual plan.
General Budget, Jan-Sep, HUF bn
2011 2012 % y/y "% 2012
plan"
General government balance -1570.6 -545.8 -65.2 94.7
revenue 9,319.8 10,282.0 10.3 71.2
expenditure 10,890.4 10,827.8 -0.6 72.1
Central government balance -1,365.7 -628.9 -54.0 105.9
revenue 5,926.1 6,563.9 10.8 68.7
expenditure 7,291.8 7,192.8 -1.4 70.9
Extrabudgetary funds balance 78.1 101.8 30.3 192.4
revenue 332.1 345.1 3.9 78.7
expenditure 257.0 243.3 -5.3 63.1
Social Security Funds balance -280.0 -18.7 -93.3 53.0
revenue 3,061.6 3,373.0 10.2 75.8
expenditure 3,341.6 3,391.7 1.5 75.6
Adjusted GG balance -1,308.1 -670.8 -48.7 73.1
Source: Ministry for National Economy
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