Hungary Budget Deficit Amounted to 5.7% of GDP in Third Quarter

Hungary’s budget deficit (HUGBCBAL) totaled 404 billion forint ($1.7 billion), or 5.7 percent of gross domestic product, in the third quarter of 2011, the Budapest-based statistics office said in a report today.

The government estimated the budget would be in surplus in 2011 after the effective nationalization of private pension fund assets.

To contact the reporter on this story: Edith Balazs in Budapest at ebalazs1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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