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Ministry of Finance: The Hungarian economy has returned to the growth path

Ministry of Finance: The Hungarian economy has returned to the growth path

budget Later Provides for the protection of pensions and family allowances, And the Coverage needed to keep overhead expenses low, While enhancing economic performance helps achieve the deficit target of 4.5 percent.

The budget closed May with a surplus of 49 billion Hungarian forints, the most favorable monthly indicator for May since 2016, the Ministry of Finance said in its press release on the state of the country's central public finance subsystem. End of May.

By the end of May, the central public finance subsystem closed with a deficit of 2,548.5 billion Hungarian forints. Within this, the central budget showed a deficit of HUF 2,559.7 billion, separate state funds showed a surplus of HUF 115.5 billion, and social security financial funds showed a deficit of HUF 104.3 billion.

The Prime Minister emphasized that as of the end of May, interest expense payments amounted to HUF 1,760.6 billion, which is HUF 659.4 billion more than in the same period of the previous year. The jump in interest expenses at the beginning of the year was due to changes in interest payment on residential bonds, given that the interest payment date for some series of premium Hungarian government bonds (PMÁP) was due in the first quarter.

The amounts spent on retirement benefits and preventive therapeutic care also exceeded the amounts paid in the previous year. HUF 2,848.4 billion was spent on respite care, while HUF 1,090.8 billion was spent on curative and preventive care as of the end of May.

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The information also touched on the fact that the arrival of EU funds is still ongoing: by the end of May, EU revenues amounting to 546.2 billion HUFs were received in the budget, while EU expenditures amounted to 801.9 billion HUFs. Regarding revenues, it should be noted that despite the decrease in taxes, tax revenues and contributions increased by 9.9% compared to the same period of the previous year.

The government insists on reducing the deficit and debt, and in order to achieve the revised deficit target of 4.5 percent, it has rescheduled 675 billion HUF in public investment, while implementing several thousand billion HUF for development this year.

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