Year-End Spending Frenzy in Hungary

2021. november 10.

ING Think

The monthly deficit in October breaks a record, showing the strong push to increase aggregate demand, as the general election approaches. The Hungarian budget posted a HUF 630b cash-flow based deficit in October 2021, which is the highest monthly deficit on record in October, roughly doubling the previous record from 2020. This monthly deficit adds to the already high year-to-date shortfall, which now sits at HUF 2.922t by the end of the tenth month.