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Facts & Statistics

The government deficit for the first nine months is HUF 2.3 trillion

The central subsystem of public finances, excluding local governments, closed the first nine months of the year with a deficit of just under HUF 2.3 trillion, the Ministry of Finance announced in a statement on Friday.

As MTI reported, the central budget achieved a deficit of over HUF 2 trillion, while social security had a deficit of nearly HUF 254 billion. The segregated state funds achieved a surplus of HUF 28.6 billion.

Compared to the deficit of HUF 1.9 trillion at the end of August, the monthly deficit was HUF 392 billion in September. The nine-month deficit was HUF 21 billion lower than in the same period last year, but 4.3 billion more than the revised appropriation of HUF 2.3 trillion for 2021.

The revised financing plan of the Public Debt Management Center projected a cash flow deficit of nearly HUF 4 trillion for this year, even before issuing government bonds worth USD 4.25 billion and EUR 1 billion in September.

According to the information provided by the ministry, the government spent HUF 173 billion on domestic expenditures, HUF 143.5 billion on transport sector programs and HUF 134.5 billion on the Hungarian village program. Meanwhile, HUF 94.7 billion was spent on competitiveness-enhancing support, HUF 73 billion on Tourism Development, HUF 60 billion on railway developments and HUF 52.4 billion from the budget on national agricultural subsidies.

Significant expenditures also amounted to HUF 31 billion spent on supporting the employment of workers with disabilities, and HUF 29.7 billion was paid to the Healthy Budapest program by the end of September.

The information also points to the outstanding growth of the Hungarian economy, at the EU level as well. Record employment data show that crisis management based on tax cuts, investment incentives and family support has been effective. In order to protect the results achieved, the government will continue to restart the economy, for which the central budget will provide the necessary resources. 

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