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Hungarian Budget Deficit Growing Quickly
Politics ♦
Published: October 2, 2012; 13:03 ♦ (Vindobona)
According to preliminary data the deficit of the general government sector in the first half of 2012 was HUF 393 billion, 2.8% of GDP. Although the deficit is smaller than last year, the 2012 target will not be met.
Hungarian Budget Deficit Growing Quickly / Picture: © Vindobona.org
It is HUF 251 billion lower, or 1.9 percentage points less as a proportion of GDP compared to the deficit – calculated without the transfer of wealth of private pension funds to the state budget – in the same period of 2011. The lower-than-base-period deficit stems from revenues increasing at a higher rate than expenditures. The deficit in the second quarter of 2012 was HUF 78.9…
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