Hungary posts 209.4bn forint April budget deficit

BUDAPEST: Hungary's 2018 budget deficit widened by 209.4 billion forints ($791.68 million) to 1.08 trillion in April, approaching a 1.36 trillion forint full-year target, data showed on Tuesday.

The shortfall rose due to increased spending on pre-financing projects sponsored by the European Union, various infrastructure development programmes, as well as one-off pre-election expenditures, the Economy Ministry said.

At the same time, the ministry affirmed its 2.4 percent of gross domestic product full-year deficit target. It said revenues from value-added, personal income and payroll taxes rose in the first four months. ($1 = 264.5 forints)