Deficit in government sector skyrockets in Hungary

The government sector deficit relative to GDP was 3.7 percent in the third quarter of last year and 5.4 percent in the first three quarters, the Central Statistical Office said on Wednesday.

According to the statement, the preliminary deficit of 3.7 percent of GDP in the third quarter was HUF 264 billion (EUR 694.2 million) that is 2 percentage points better than a year earlier, while the deficit of 5.4% of GDP in the first three quarters was HUF 1,363 billion (EUR 3.51 billion) that is 2.1 percentage points worse than in the same period of the previous year.

In Q3 2023, the government sector deficit was HUF 701 billion (EUR 1.84 billion), or 3.7 percent of GDP.

Compared with the same period last year, revenues increased by HUF 861 billion (EUR 2.26 billion), or 12.7 percent, while expenditure rose by HUF 597 billion (EUR 1.57 billion), or 7.7 percent.

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