This year the Hungarian budget registered the lowest first quarter deficit in fifteen years, announced National Ministry of Economy.
According to the Ministry's statement, the accumulated deficit of the central sub sector of the state budget was HUF 125.8bn at the end of March 2016. In the same period one year ago, the deficit was much higher, at HUF 536.7bn. The difference between the balance at the end of March 2016 and 2015 was the consequence of higher tax revenues and lower expenditures this year.
The central sub sector closed the first quarter of 2016 was a deficit of HUF 158.2bn, while Social Security Funds and Extra Budgetary State Funds posted surpluses of HUF 29.9bn and HUF 2.5bn, respectively. The balance in the month of March showed a deficit of HUF 140.8bn at the central sub sector, well below the HUF 226.0bn figure registered in March 2015.
