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Press release - General government deficit and debt - second notification of 2008 - 22nd October 2008.

In 2007 the general government deficit of Hungary amounted to HUF 1 260.8 billion, 5.0% of GDP according to the preliminary data of second estimation of national accounts. The deficit decreased by HUF 134 billion, 0.5 percentage point of GDP compared to the first estimation published in April 2008. The revision is mainly due to data revision and different methodological recording of EU-transfers, financial transactions and gross fixed capital formation compared to the first notification. The government data were calculated on the legal grounds of the Excessive Deficit Procedure (EDP) in the methodological framework of the European System of Accounts (ESA95) and were reported to Eurostat.

According to the figures of the National Bank of Hungary, general government debt amounted to HUF 16 729.3 billion, 65.8% of GDP at the end of 2007.

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