Hungaryʼs general government deficit soared to nearly HUF 1.052 trillion in May as the state poured more and more money into its pandemic defense spending, according to the finance ministry. The government had spent nearly HUF 450bn at the end of last month on its fight to contain the coronavirus. Pre-financing for EU-funded projects also pushed up the deficit. Expenditures for these projects hit HUF 967.6bn in May, but Brussels had only transferred HUF 486.7bn by the end of the month. The government also spent billions of forints on roadwork and investment incentives for businesses, according to the ministry.
