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Budget deficit HUF 2,165 bn at end-July, FinMin confirms
August 19th, 2020
Hungary's budget deficit, excluding local councils, was 2,165 billion forints at the end of July, the Finance Ministry said in a detailed release of data on Wednesday. Additional spending on virus protection, economic stimulus and pre-financing for European Union-funded projects, increased the shortfall. Payouts for EU-funded projects came to 1,274.9 billion forints by the end of July, while transfers from Brussels were 489.5 billion. "Resources necessary for jump-starting the economy and for pandemic defence are covered entirely from the Hungarian budget," the ministry said.
MTI