Minister for National Economy Mihály Varga said it was a historic achievement that the central government budget posted a surplus for the initial two months of the year, as it has been unprecedented since 1998, when the current calculation method was introduced.
Hungaryʼs general government balance, excluding local councils, had a cashflow-based surplus of HUF 14.8 billion at the end of February, the strongest level in 18 years. For comparison: the accumulated deficit of the central sub sector totalled HUF 310.7bn one year ago.
The surplus is a sign of predictable and responsible fiscal management, he added.
The number of people in employment has been above 4 million for almost two years in Hungary, and thus revenues related to wages and consumption (corporate income tax, VAT, personal income tax, social contributions and duties) have risen steadily. In addition, taxpayer morale has been improved by Government’s anti-fraud measures, such as the EKÁER or on-line cash registers, Mihály Varga noted.
