DATA SNAP: Hungary 11-Month Budget Gap 82% Of This Year's Goal
December 07 2011 - 11:08AM
Dow Jones News
Hungary's year-to-date budget deficit narrowed further in
November as the majority of budget revenues are flowing at the end
of the year, the national economy ministry said Wednesday.
The budget posted a surplus of 79.9 billion forints ($355
million) in November, taking the deficit of the first 11 months to
HUF1.15 trillion, or 82% of the full-year deficit target, the
ministry said in a statement.
After a hefty surplus also in October, Hungary will see its 2011
budget deficit around 3% of gross domestic product in line with the
ministry's earlier warning that the deficit might not be below 3%
rather somewhere around it due to a slower-than-seen gross domestic
product growth this year.
Budget revenues are seasonally low at the start of the year
while the extraordinary taxes the government levied last year on
several sectors have yielded revenues in the fourth quarter this
year.
-By Veronika Gulyas, Dow Jones Newswires, +36 1 267 0623;
veronika.Gulyas@dowjones.com
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