Hungary’s budget deficit reaches EUR 7.2bn at end October

Hungary’s budget deficit, excluding local councils, reached 2,604.2 billion forints (EUR 7.2bn) at the end of October, the finance ministry said in a preliminary release of data on Monday.

The central budget deficit reached 2,140 billion forints, the social insurance funds were 489.9 billion in the red and separate state funds had a 25.7 billion surplus.

The deficit has swelled this year because of pandemic defense spending, economic stimulus and pre-financing for European Union-funded projects.

The deficit rose from 2,270.3 billion forints at the end of September.