Hungary posts HUF -230.9bn March budget deficit

BUDAPEST: Hungary posted a budget deficit of 230.9 billion Hungarian forints in March, after a deficit of 393.9 billion in February, the Economy Ministry said on Thursday.

The monthly deficit was 182.4 billion forints a year ago.

In the first quarter the accumulated deficit came in at 517.5 billion forints, which equalled 89.8 percent of the full-year goal, the ministry said.

Hungary targets a deficit of 2.5 percent of gross domestic product in a slowing economy this year. The European Commission has pushed Hungary to make extra efforts to meet that target and avoid a potential suspension of EU subsidies.