Government finances offer important information regarding the economic status of a country, within it about the general government sector. As a main rule in the European Union member countries the government sector deficit may be 3% of the GDP at most; government debt ratio maximum 60% of the deficit. In case these conditions - the conditions for introducing the Euro also - are not met by a member state the excessive deficit procedure is launched against that state. Statistics regarding the government sector offer, beside deficit and debt related data, information about sums of revenue and expenditure as well as about their content.
According to Council Directive (EU) 2024/1265 of 29 April 2024 amending Directive 2011/85/EU on requirements for budgetary frameworks of the Member States, Member States should publish quarterly deficit and debt data calculated in the manner defined in the European System of Integrated National Accounts. Deficit data are generated as a result of HCSO’s compiling quarterly non-financial accounts for the general government, and the source of debt data is data from the financial account compiled by NBH.
Balance of the general government sector in proportion of GDP
Indicator description
Changes in total revenues of organisations classified into the general government sector compared to the same period of the previous year, in a given quarter.
Changes in the revenues of the general government sector
Indicator description
Changes in total revenues of organisations classified into the general government sector compared to the same period of the previous year. We calculate the index based on current HUF-base data.
Changes in total expenditures of organisations classified into the general government sector compared to the same period of the previous year. We calculate the index based on current HUF-base data.
The performance of the Hungarian economy in the 1st quarter of 2025 was identical with the same period of the previous year’s level. Increasing performance in the service sector as well as the growth in consumption had a positive impact on the GDP. The continuing setback of the industry and construction, a subdued investment activity, the deterioration in the balance of the external trade counterbalanced this trend. Regarding the labour market, employment rate – considering the 1st quarters’ values – was the highest ever, while the unemployment rate lessened.
Hungary’s GDP increased by 0.5% amid global challenges in 2024. The performance of goods-producing industries lessened, while that of service-providing ones rose, which shows the duality of economic trends. Household consumption picked up, which was considerably encouraged by the purchasing power of earnings growing again with the inflationary wave calming down. Besides, the data series reveal that the level of employment reached another peak.
According to preliminary data the deficit of the general government sector in the 1st quarter of 2025 was HUF 824 billion, 3.9% of GDP. The balance improved by HUF 234 billion, or by 1.4 percentage points as a proportion of GDP compared to the same period of the previous year.
According to seasonally and calendar adjusted data, financial corporations as well as households and non-profit institutions serving households (NPISHs) were in a net lending, while non-financial corporations and general government in a net borrowing position in the 4th quarter of 2024. The gross saving rate of households and NPISHs came to 17% and their gross investment rate to 6.6%. The gross profit share of non-financial corporations reached 41% and their gross investment rate 29%.
The deficit of the general government sector in Hungary was HUF 5,035 billion, 6.7% of GDP in 2023, based on preliminary data of national accounts. The revenue of the general government sector was HUF 32,111 billion and its expenditure HUF 37,146 billion. Compared to 2022, revenues increased by 14.1% and expenditures by 15.2%. The debt of the general government sector – based on data of the National Bank of Hungary – was HUF 55,142 billion, 73.4% of GDP at the end of 2023.
The yearbook provides an overview of Hungary's demographic, social and economic processes, environmental characteristics and their changes over time, with the help of tens of thousands of data of 500 tables, graphs and maps. Innovatively, the Tourism, catering chapter in the volume includes the gross receipts of tourist accommodation establishments by type of accommodation. Another change is that this year the Regional data chapter already presents territorial data by tourism area, giving greater emphasis to tourist destinations.
