The Hungarian economy performed above average last year

The Hungarian economy performed above average last year

The budget provided full resources for epidemic and economic protection in the past year, which is also the reason why the Hungarian economy performed above the European Union average in 2020.

As with defense, the resources to buy vaccines and restart the economy remain unchanged in the budget.

The Finance Ministry said.

Photo: AFP

As a result of measures taken so far and epidemic expenditures, the central subsystem closed with a deficit of 539.7 billion HUF at the end of February. Within this, the central budget generated a deficit of 505.5 billion HUF, the separate state financed a surplus of 13.4 billion HUF, and the Social Security funds generated a deficit of 47.6 billion HUF. In the same period of the previous year, the deficit in the central subsystem amounted to HUF 254.6 billion.

The balance at the end of February was greatly affected by the fact that in the first two months of 2021, 128.8 billion forts of EU revenue entered the budget, at the same time in these two months, EU expenditures approached 481 billion HUF.

Until the end of February 2021, the following can be highlighted in domestic expenditures:

Road development (57.4 billion Ft), support for enhanced competitiveness due to the coronavirus epidemic (50.7 billion Ft), Modern Cities Program (42.0 billion Ft), transport sector programs (38 billion Ft, 8 billion Ft) and sums spent on the Budapest Health Program ( 28.7 billion HUF).

Additionally, the first installment of the pension was paid out for 13 months in February.

In light of the epidemic situation, the government has expanded the wage support system to cover all areas affected by the lockdown. In addition, a comprehensive multi-year program has been launched to increase doctors’ pay.

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