According to the report issued by the Ministry for National Economy, in the month of July 2012, the central sub sector of the state budget registered a remarkable surplus. With regard to the end-of-July deficits, this year’s figure of 56.7 percent is much more favourable than the 81.8 percent in 2011.

The revenues of the central government budget for July were much higher in comparison to the same month of the previous year on account of revenues of budgetary institutions, payments related to state property, interest payments and tax revenues.

With regard to expenditures, they were lower at consumer price subsidies, chapter administered professional appropriations, debt service related interest payments and redeemed government guarantees as well.
The revenues and expenditures of institutions which had been taken over by the state from the local governments of counties, played a key part in this development.

The 22.3bn HUF surplus in July 2012 of Social Insurance Funds originated from the surplus of 9.1bn HUF of the Pension Insurance Fund and the surplus of 13.2bn HUF of the Health Insurance Fund. The balance was more favourable than last year, which is largely attributable to the higher revenues from social welfare taxes and contributions as well as healthcare services contributions.

For further information, please see the attached document.

(Ministry for National Economy)