Government finance

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.

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Deficit as a proportion of GDP was 3.7% in the 1st half, and 2.3% in the 2nd quarter of the year, Balance of general government sector, 1st half of 2024 and 2nd quarter of 2024

According to preliminary data, the deficit of the general government sector in the 1st half of 2024 was HUF 1,489 billion, 3.7% of GDP. The deficit of the 2nd quarter was HUF 469 billion, 2.3% of GDP.

Statistical Yearbook of Hungary, 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.

Hungary 1st quarter of 2024 – The economy grew once again

The volume of GDP surpassed the one year earlier level by 1.1% in the 1st quarter of 2024. Increased household consumption and an improving external trade balance resulted in this change for the better. Inflation decreased below 4%, real earnings went up. Construction and most service subsections’ performance grew on the production side, industry, at the same time, registered a setback. Employment rate – considering 1st quarters’ values – was the highest ever, unemployment rate, however, grew as well.

Quarterly non-financial sector accounts, 1st quarter 2024

Hungary’s GDP reached HUF 19,828 billion in the 1st quarter of 2024. Financial corporations as well as the sector made up by households and non-profit institutions serving households (NPISHs) were in a net lending, while non-financial corporations and the general government sector in a net borrowing position in this period. The gross saving rate of households and NPISHs came to 20% and their gross investment rate to 6.4%. The gross profit share of non-financial corporations was 43% and their gross investment rate 32%.

Notification of the balance and debt of the general government sector (1st EDP notification of 2024)

The deficit of the general government sector in Hungary, in 2023, was HUF 5 018 billion, 6.7% of GDP based on preliminary data of the national accounts. The debt of the general government sector – based on data of the National Bank of Hungary – was HUF 55 134 billion at the end of 2023, representing 73.5% of GDP.