Hungary: Budget Deficit Higher Than Planned

Politics ♦ Published: October 1, 2013; 22:22 ♦ (Vindobona)

In the first half of 2013, Hungary´s preliminary deficit came at 2.6% of GDP. The government anticipates that the deficit will not exceed 3.0% of GDP this year.

Hungary: Budget Deficit Higher Than Planned / Picture: ©

According to preliminary data the deficit of the general government sector in the 1st half of 2013 was HUF 381.5 billion, 2.6% of GDP, which was HUF 73.5 billion more, or 0.4 percentage point higher as a proportion of GDP compared to the same period of 2012. The higher-than-base-period deficit stemmed from expenditures increasing at a higher rate than revenues. The deficit in the 2nd…