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Hungary’s budget deficit widens to 2.892 trillion forints by end-June

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Reuters UK

BUDAPEST (Reuters) – Hungary posted a 2.892 trillion forints ($7.21 billion) budget deficit in January-June, the Finance Ministry said on Friday, adding that Prime Minister Viktor Orban’s government was committed to a 4.9% of GDP deficit target this year. The ministry did not provide a deficit figure for June, but based on earlier data for January-May, the monthly deficit came in at 155 billion forints based on Reuters calculations. A surge in spending ahead of an April 3 parliamentary election, including a tax rebate for families, pension hikes and tax cuts have contributed to the rise in the…

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