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.
Balance of the general government sector in proportion of GDP
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.
Balance of the general government sector expenditures in proportion of GDP
Changes in total revenues and 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 deficit of the general government sector in the 1st quarter of 2020 was HUF 180 billion, 1.5% of GDP according to preliminary data. The balance deteriorated by HUF 309 billion, or by 2.6 percentage points as a proportion of GDP compared to the same period of the previous year. The change in the balance was due to a larger increase in expenditures than in revenues.
In the 1st-3rd quarters of 2019 the performance increase of the Hungarian economy continued. The growth was a result on one hand of the performance of the industry, construction and certain service divisions (e.g. commerce, tourism), on the other hand of the strengthening of the consumer and investment activity. Beside the price level increase real earnings surpassed the previous year’s level. Due to fewer live births and basically unchanged death numbers natural decrease was higher than in the 1st-3rd quarters of 2018.
The volume of Hungary’s gross domestic product (GDP) was 5.1% higher in 2018 than a year earlier, its value per capita approximated HUF 4.4 million. The deficit of the general government sector corresponded to 2.3% of GDP in 2018. In addition to preliminary data for 2018, final data for 2017, as well as data for former years revised due to international or domestic methodological changes and due to newly used data sources are also included in our publication.
The deficit of the general government sector was HUF 934 billion, 2.2% of GDP in 2018, based on preliminary data of national accounts. According to data produced in compliance with the methodological requirements of the system of national accounts (ESA 2010) the revenue of the general government sector was HUF 18,617 billion and its expenditure HUF 19,551 billion. Compared to 2017 revenues increased by 8.5% and expenditures by 8.6%.