FinMin projects Jan. deficit at Ft 210 bln

Hungary is to register a general government deficit of Ft 210 billion in January, the Finance Ministry projected yesterday. The projection does not cover the position of local governments. The central budget alone is expected to post a deficit of Ft 199.2 billion in January. One-off effects explain some Ft 120-130 billion of the January deficit. The ministry forecasts the Q1 general government deficit at Ft 369.9 billion, including a central budget deficit of Ft 325.3 billion. The general government expects to post 36% of the whole year's GFS deficit in the first quarter. The 2005 GFS general government deficit, excluding local governments, is targeted at Ft 1,022.5 billion or at 4.6% of GDP, Finance Ministry deputy state secretary István Várfalvi said.