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In 2013, the eighth month budget deficit was high for the last time, as according to the release of preliminary data from the Ministry of Finance, a hole of 91 billion was formed in the central subsystem.
The deficit of the first eight months gained weight to an unprecedented size, reaching a deficit of HUF 2.261 million. In this regard, the Ministry highlights in its communication that “however, the epidemiological control and economic protection measures still require significant budgetary resources.”
The details
The eight-month deficit of HUF 2.261 billion was as follows: the central budget reached a deficit of HUF 1873.1 billion, segregated state funds HUF 2.3 billion and social security financial funds reached a deficit of 385.9 billion HUF.
Regarding the revenues of the central subsystem, it can be seen that the economic effects of the coronavirus epidemic and the tax benefits introduced in connection with the epidemic have been felt for several months. – write the wallet. In the case of the value added tax, the implementation at the end of August was 56.6% of the annual appropriation, while in the case of the personal income tax it was 63.2% of the annual appropriation . In the case of the tax on social contributions and pensions, health insurance and labor contributions, 62.4% of the annual appropriation was executed in the first eight months of the year.
In August 2020, it amounted to almost 283 billion HUF EU development resource entered the budget, so 2020 Eight-month revenue amounted to HUF 772.4 billion. At the same time, at the end of August 2020, EU spending exceeded HUF 1.374 million. So here there is a deficit of 400 billion guilders, but it is clear that this time the balance of EU funds is far from causing a budget puncture.
The expenses were also detailed by the Ministry:
- In the first eight months of the year, medical device purchases related to the coronavirus epidemic amounted to more than 553 billion HUF.
- In addition, among internal expenses, the support to increase competitiveness required as a result of the coronavirus epidemic by the end of August 2020 (150.6 billion HUF) can be highlighted,
- resources spent on priority road projects (140,000 million HUF).
- It appears as an important expense of the consignment for tourism development objectives (122.2 billion HUF),
- funds spent on the maintenance and operation of the road network (HUF 75 billion), and
- from the Rural Roads Fund (HUF 57 billion),
- for the renewal of the road network (37.4 billion HUF),
- amounts paid for the Modern Cities Program (HUF 33.6 billion).
- To facilitate the start of school, the affected families also received in August the amount of family benefits owed in September (in addition to the amount in August), which amounts to about HUF 32.1 billion.
Cover Image Source: Getty Images
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