Hungary Budget Deficit Swells to Around 9% of GDP in 2020
Hungary Budget Deficit Swells to Around 9% of GDP in 2020 Hungary’s cash flow-based budget deficit, excluding local councils, was 5,548.6 billion forints (EUR 15.5bn) at the end of 2020, the Finance Ministry confirmed in a detailed reading of data on Friday. Based on the EU accounting rules, the government expects the deficit to be “around 9 percent” of GDP in 2020. In December alone, the budget produced a shortfall of 2,250.5 billion forints. The central budget ran a 4,953.5 billion forint deficit for the full year, while separate state funds had a 46.7 billion surplus and the social i...
Source: hungarytoday.hu