Hungary budget deficit at 7.5 pc of GDP in Q1

The Hungarian budget's net financing requirement -- a good approximation for the budget deficit -- in the first quarter came to 862 billion forints (EUR 2.5bn), the equivalent of 7.5 percent of GDP, the National Bank of Hungary (NBH) said on Wednesday. The budget deficit came to 9.4 percent of GDP, or 4,540 billion forints, in the twelve previous months, the NBH said. The central budget's net financing requirement was at 639 billion forints, while local councils' came to 199 billion forints.