World

Hungary posts 209.4bn forint April budget deficit

Published May 8, 2018 Updated May 8, 2018 02:51pm

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)

Copyright Reuters, 2018