The budget deficit, excluding local councils, reached Ft 19 billion in April, compared with HUF 73 billion a year ago, the Ministry of National Economy announded. The defict in the first four months was HUF 144.9 billion, or 19% of the full-year target.
The deficit for the first four months of the year was the lowest in nearly fifteen years, the National Economy Ministry said. The deficit had reached HUF 610 billion at the end of April last year.
The central budget deficit came to HUF 209 billion, while the social insurance funds and separate state funds ran surpluses of HUF 42.6 billion and HUF 21.5 billion, respectively.
Higher tax revenues, including revenues from VAT, the corporate tax and personal income tax and lower expenditures helped to bring down the deficit in the January-April period.
The ministry confirmed the full-year deficit target of 2% of GDP, calculated according to European Union rules.
