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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Hungary, 2022 Q3

The economic performance of Hungary surpassed in the 1st–3rd quarters of 2022 the one year earlier level by 6.1%. Consumer prices year-on-year increase in the first ten months was 12.7%, producer prices, characteristically, grew in a much faster pace. Compared to the high base caused by the pandemic, the number of deaths decreased by 9.3%, the natural decrease of the population in January–September 2022 amounted to 35 thousand people, 17% fewer year-on-year.

Deficit as a proportion of GDP was 3.7% in the first three quarters, Balance of general government sector, 1st–3rd quarters of 2022 and 3rd quarter of 2022

According to preliminary data, the deficit of the general government sector in the 1st–3rd quarters of 2022 was HUF 1,825 billion, 3.7% of GDP. The balance improved by HUF 366 billion, or by 1.7 percentage points as a proportion of GDP compared to the same period of the previous year.

Notification of balance and debt of the general government sector (second EDP notification in 2022)

The deficit of the general government sector was HUF 3,938 billion, 7.1% of GDP in 2021 based on the second 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 22,753 billion and its expenditure HUF 26,691 billion. Compared to 2020 both revenues and expenditures increased by 7.9%.

Quarterly non-financial sector accounts, 3rd quarter 2022

Hungary's GDP amounted to HUF 17,579 billion in the 3rd quarter of 2022. Solely financial corporations were in a net lending position, the other sectors were net borrowers in that quarter. The saving rate of households and non-profit institutions serving households (NPISHs) reached 3.8%. Similarly to earlier quarters, the gross fixed capital formation rate of the total economy remained at a high level (33%).

Hungary in Figures, 2020

Our publication, also highlighting the main effects of the pandemic, gives an overview of the social and economic trends in Hungary in 2020, including a 5% drop in GDP, putting us in the middle of the EU ranking, taking into use 28,000 new homes, the highest number since 2009, a nearly threefold increase in the share of people working remotely or from home as compared to the average for the past 10 years, a 42% increase in the value of mail order and internet retailing, and fewer accidents on the roads.