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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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.

Hungary 1st semester of 2024 – Economic upturn at services sections

The performance of the Hungarian economy increased in the 1st semester of 2024 by 1.3%, year-on-year. Most services offering sections as well as construction contributed to the growth, while industrial performance lessened. Household consumption thrived, supported by real earnings growth, while the growth pace of consumer prices slowed down in the 1st semester of 2024 to 3.7%. Labour market-wise employment rate continued to grow, however unemployment rate increased, too.

Deficit as a proportion of GDP was 3.7% in the 1st half, and 2.3% in the 2nd quarter of the year, Balance of general government sector, 1st half of 2024 and 2nd quarter of 2024

According to preliminary data, the deficit of the general government sector in the 1st half of 2024 was HUF 1,489 billion, 3.7% of GDP. The deficit of the 2nd quarter was HUF 469 billion, 2.3% of GDP.

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.