PM: the government is again keeping the level of the deficit on a moderate path

By: Trademagazin Date: 2024. 09. 24. 10:40

With the measures taken this spring, the government improved the scope of the budget by more than HUF 1,000 billion. In the months following the decisions made, the budget ended twice with a surplus. After the balance in August, which can be traced back to seasonal processes, the government is again keeping the deficit on a moderate path. The government is monitoring the development of the budget indicators and, if necessary, will maintain the deficit target with additional measures – stated the Ministry of Finance (PM) in the introduction to the detailed information on the state of the central subsystem of the public finances at the end of August.

By the end of August, the central subsystem of public finances closed with a deficit of HUF 2,857.7 billion. Within this, the central budget showed a HUF 2,862.1 billion deficit, the segregated state funds showed a HUF 172.8 billion surplus, and the social security financial funds showed a HUF 168.4 billion deficit.

In August – in one month – the central subsystem closed with a deficit of HUF 414.3 billion.

The report highlighted that the data for August is overshadowed by the seasonality of tax revenues, especially VAT revenues, which means that less revenue comes into the budget at that time. In addition, the government spent more on the payment of the double family allowance and the development of public roads and public transport than in the same period last year.

The amounts spent on retirement benefits and curative-preventive care exceed the payment made a year earlier. We spent HUF 4,281.8 billion on respite care and HUF 1,781.6 billion on curative and preventive care in the first eight months of the year, the PM wrote.