The deficit in proportion of the GDP was 3.9% in the first quarter
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.
In the 1st quarter of 2025 the balances by subsectors: The deficit of the central government amounted to HUF 1088 billion, while local governments and social security funds registered surpluses of HUF 180 and 84 billion.
In the 1st quarter of 2025:
The general government sector’s revenues were HUF 8639 billion and its expenditures HUF 9463 billion.
In the 1st quarter of 2025 compared to the same period of 2024:
Revenues went up by HUF 692 billion or by 8.7%. HUF 310 billion (9.8%) increase in value was recorded in taxes on production. VAT revenue growth was HUF 209.5 billion (12.5%). Revenues from taxes on income were HUF 191 billion (13.8%) higher than a year earlier. Social contributions increased by HUF 186 billion (by 9.2%). Other revenues increased by 4 billion (by 0.3%).
Expenditures increased by HUF 458 billion or by 5.1%. The increase in case of paid compensation of employees grew by HUF 208 billion (by 10.5%). Intermediate consumption increased by HUF 182 billion (by 14.5%). Social benefits other than social transfers in kind rose by HUF 125 billion (by 4.9%). Interest expenditures decreased by HUF 66 billion (by 6.7%). Gross fixed capital formation fell by HUF 82 billion (by 19.3%). Other general government sector expenditures increased by HUF 91 billion (by 5%).