According to preliminary data the deficit of the general government sector in the first quarterquarter of 2010 amounted to HUF 259 billion, 4.0 pct of GDP.
The deficit decreased by HUF 54 billion, 0.8 percentage point of GDP compared to the first quarter of 2009, which was due to the fact that revenues increased at a higher rate than expenditures.
According to data compiled in compliance with the methodological guideline of the system of national accounts (ESA95), revenues of the general government sector amounted to HUF 2 942.4 billion, expenditures to HUF 3 201.7 billion and the deficit to HUF 259.3 billion in the first quarter of 2010. Revenues increased by 3.1 pct in the first quarter of 2010 compared to the first quarter of 2009.
It was primarily taxes on production and imports that rose substantially (15.9 pct), within which VAT revenues grew by 25.9 pct. However, revenues of income taxes (11.9 pct) and social contributions (8.4 pct) fell significantly.
