Hungary Budget Gap at 96.9% of 2011 Goal Through April

(Corrects to remove budget deficit first paragraph.)

Hungary posted a budget surplus of 75.9 billion forint ($419 million) in April, narrowing the four- month shortfall to 666.2 billion forint, or 96.9 percent of the annual target, the Economy Ministry said.

The government can meet its full-year budget deficit target of 2.94 percent of gross domestic product this year, the ministry said in an e-mailed statement today.

The government forecasts a budget deficit of 468.5 billion forint in the second quarter, followed by a surplus of 220.6 billion forint in the third quarter and a surplus of 302.6 billion forint in the last three months of the year.

The forecasts don’t include the consolidation of debts at the state railway company MAV and the Budapest transport company BKV nor spending on buying out public-private partnership projects, the ministry said.

To contact the reporter on this story: Zoltan Simon in Budapest at zsimon@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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