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.
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