Hungarian Budget Deficit Expands Further

2020. november 11.

ING Think

Despite a record high monthly deficit in October, the budget is still on track to be in line with the year-end target even with the newly announced measures. The general government’s budget deficit increased by HUF 333.7bn in October, a record high monthly shortfall historically in the tenth month of the year. This translates into an accumulated cash-flow based deficit of HUF 2,604bn in the January–October period. Compared to the same period last year, it is 4.5-times higher, so a HUF 2 trillion extra shortfall.