In addition to preserving the stability of the budget, the government will continue to be able to provide resources for the realisation of various social policy goals and both domestic and EU development projects. In view of the fact that the deficit of the central subsystem of public finances was 190.9 billion forints (EUR 575.8 million) in November, this equates to 766.3 billion forints (EUR 2.31 billion) for the first eleven months of the year, which is 76.7 percent of the annual target.

Thanks to the performance of the economy, the measures introduced within the field of the whitening of the economy, and employment processes, 95.8% of annual value added tax, 94.6% of excise tax, 92.6%  of personal income tax and 89.3% of health insurance and job market contributions were paid until the end of November. In addition, the budget received a total of 1156 billion forints (EUR 3.48 billion) in European Union income during the first eleven months of the year, while expenditure relating to EU development projects approached 1341.3 billion forints (EUR 4.05 billion).

Accordingly, in addition to financing the functioning of the state and assuring public services, the budget continues to be able to provide the necessary resources for social subsidies and the realisation of the Family Protection Action Plan, which was launched in July. The most popular element of the latter is the “baby shower” benefit, with the help of which over 40 thousand families who are having children have been able to draw on some 400 billion forints (EUR 1.2 billion) in funding. Furthermore, thanks to the good performance of the economy, in November pensioners and people receiving pension-like services received a lump sum supplement as well as a higher than ever before pension premium averaging 20 thousand forints, which represented a total expenditure of over 77 billion forints (EUR 232 million). Funding for projects aimed at facilitating the competitiveness of enterprises, the realisation of the Modern Cities Program and the Modern Village Program, and the development and refurbishment of the road and rail system may be particularly highlighted from among domestic development expenditures.

Until the end of November the deficit of the central budget was 659.5 billion forints (EUR 1.99 billion), separate state funds achieved a surplus of 78.5 billion forints (EUR 236.8 million), and the social security funds closed with a deficit of 185.3 billion forints (EUR 558.9 million). In light of all this, the 1.8% target deficit for the whole of the year, calculated according to EU methodology, remains achievable.

(MTI)