Government finance

Government finances offer important information regarding the economic status of a country, within it about the general government sector. As a main rule in the European Union member countries the government sector deficit may be 3% of the GDP at most; government debt ratio maximum 60% of the deficit. In case these conditions - the conditions for introducing the Euro also - are not met by a member state the excessive deficit procedure is launched against that state. Statistics regarding the government sector offer, beside deficit and debt related data, information about sums of revenue and expenditure as well as about their content.

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Hungary 1st-3rd quarters of 2024 – Increasing consumption

The performance of the Hungarian economy surpassed in the 1st – 3rd quarters of 2024 the one year earlier level by 0.6%. Household consumption increased, supported by real earnings growth, while inflation stabilised, being 3.7% in the 1st – 3rd quarters. The performance of most service offering sections and that of construction grew year-on-year, while that of the industry and agriculture lagged behind the one year earlier level. Labour market-wise both employment and unemployment rate slightly grew.

Deficit as a proportion of GDP 3.0% in the 3rd quarter and 3.5% in the first three quarters, Balance of general government sector, 3rd quarter 2024 and 1st–3rd quarters 2024

The deficit of the general government sector in the third quarter was HUF 621 billion, or 3.0% of GDP. The balance is HUF 133 billion, or 0.9 percentage point more favourable than a year earlier.

Quarterly non-financial sector accounts, 2nd quarter 2024

Hungary’s GDP reached HUF 20,373 billion in the 2nd quarter of 2024. Financial corporations as well as the sector made up by households and non-profit institutions serving households (NPISHs) were in a net lending, while non-financial corporations and the general government sector in a net borrowing position in this period. The gross saving rate of households and NPISHs came to 25% and their gross investment rate to 6.7%. The gross profit share of non-financial corporations was 41% and their gross investment rate 29%.

Notification of the balance and debt of the general government sector (second EDP notification of 2024)

The deficit of the general government sector in Hungary was HUF 5,035 billion, 6.7% of GDP in 2023, based on preliminary data of national accounts. The revenue of the general government sector was HUF 32,111 billion and its expenditure HUF 37,146 billion. Compared to 2022, revenues increased by 14.1% and expenditures by 15.2%. The debt of the general government sector – based on data of the National Bank of Hungary – was HUF 55,142 billion, 73.4% of GDP at the end of 2023.

Statistical Yearbook of Hungary, 2023

The yearbook provides an overview of Hungary's demographic, social and economic processes, environmental characteristics and their changes over time, with the help of tens of thousands of data of 500 tables, graphs and maps. Innovatively, the Tourism, catering chapter in the volume includes the gross receipts of tourist accommodation establishments by type of accommodation. Another change is that this year the Regional data chapter already presents territorial data by tourism area, giving greater emphasis to tourist destinations.