In the month of September 2012 the central sub sector of the state budget registered a surplus of 13.7bn HUF. In comparison, in September 2011 the central sub sector of the state budget registered a deficit of 26 bn HUF.

In September 2012, the central state budget and state reserves registered surpluses of 19.7bn HUF and 12.6bn HUF, respectively, while social security funds recorded a deficit of 18.6bn HUF.

With regard to the end-of-September deficits in 2011 and 2012 of the central sub sector, excluding one-off items and calculated therefore on the same basis, this year’s figure of 73.1 percent is much more favourable than the 90.6 percent of last year.

The central sub sector of the state budget at the end of September 2012 closed with a deficit of 545.8bn HUF, while at the end of August 2011 this deficit totaled 1570.6bn HUF.

Central government budget

Revenues

The revenues of the central government budget for the month of September were 31bn HUF higher in comparison to the same month of the previous year. Among tax revenues, receipts from value added tax, excise taxes, personal income tax and duties surpassed the amount of last year. In addition, revenues of budgetary institutions, payments related to state property and interest payments came in also higher than in the corresponding period of last year.

Expenditures

Expenditures of the central government budget in the month of September were almost 30bn HUF higher in comparison to the same month of last year. That fact that expenditures were higher compared to last year was due to higher expenditures related to one-off and standard provisions, public service broadcasting support, the National Family and Social Policy Fund (due to change of benefit payment obligations below a certain age limit), budgetary institutions, government guarantees redeemed and  EU budget contributions.

Revenues and expenditures at institutions of the local governments of counties taken over by the state significantly influenced the overall amount of revenues and expenditures at central budgetary institutions.

For further information please see the attached document.

(Ministry for National Economy)