Historic Budget Deficit Data Is Here - But There's a Twist to the Story
9 Articles
9 Articles
With the August data, the cash flow deficit increased to HUF 5169.1 billion after eight months, which is more than 122 percent of the annual deficit target.
The deficit of the central subsystem was 2,311.2 billion forints in August.
However, this is only a temporary state, a unique situation, as the government had to advance the EU funds expected towards the end of the year for several programs. In other words, as soon as these funds arrive, the budget will be restored to order.
In August, the deficit of the central subsystem was 2,311.2 billion forints - the Ministry of Finance announced in its preliminary public finance briefing. According to the data available to us, this is the highest monthly deficit figure ever, but this does not come as a surprise and does not mean that the budget has completely turned upside down. This brings the balance for the first 8 months to -5,169.1 billion forints.
But this will decrease significantly with the arrival of EU funds. The post Pre-financing of EU projects increased the public deficit first appeared on 24.hu.
The central subsystem of the public finances closed with an unprecedented monthly deficit in August, and together with the deficit of 2,311 billion forints, the cash flow deficit increased to 5,169 billion forints in eight months, which is more than 122 percent of the original annual deficit target. The government indicated that the August data is strongly distorted by a one-off EU pre-financing item, the related revenues are expected to arrive …
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