BUDAPEST: Hungary posted a 192.8 billion forint ($758.85 million) budget deficit in January, the Economy Ministry said on Thursday, adding that the shortfall was due to financing European Union-backed projects, while main tax revenues increased.
The government spent 327.9 billion forints on EU-backed projects in January, the ministry said, while Hungary did not receive any corresponding financial subsidies from the EU last month.
Revenues from value-added and personal income taxes rose “substantially” compared to the same period a year earlier, while payroll tax income also increased, it said.
The government has affirmed its 2018 economic growth forecast of 4.3 percent, as well as its 2.4 percent of economic output budget deficit target.
