Hungary’s central government finances ended 2025 with a strikingly large deficit, according to figures released by the Ministry for National Economy (NGM). The cash-based shortfall of the central sub-system of public finances reached HUF 5,738 billion (EUR 14.9 billion), an amount that translates into roughly HUF 15 billion per day, HUF 650 million per hour, or almost HUF 11 million (EUR 28,000) per minute.
Within the central sub-system, the central budget itself recorded a deficit of HUF 5,500 billion, Telex reported. This was only partly offset by a surplus of HUF 7.3 billion in separate state funds, while the financial funds of social security posted a deficit of HUF 245.9 billion.
2025: One of the worst years for public finances
What makes the final figure particularly eye-catching is how sharply the deficit expanded at the very end of the year. By the end of November, the shortfall stood at HUF 4,070.4 billion, meaning that December alone added a massive HUF 1,668 billion to the deficit. This single-month deterioration played a decisive role in making 2025 one of the worst years for Hungary’s public finances in nominal terms.
The NGM has partly attributed the high year-end figure to delayed transfers from Brussels. According to the ministry, the European Commission withheld HUF 248 billion in late December due to liquidity constraints in the EU budget, with the funds expected to arrive in early January instead. The government argues that without this delay, the deficit would have been broadly in line with its revised plans for the year.
Even so, the numbers highlight mounting spending pressures. While tax and contribution revenues increased by 8% compared to 2024 – with consumption-related taxes rising by an even stronger 9.5% – expenditure growth remained substantial. Interest payments on previously accumulated debt reached HUF 4,197 billion in 2025, nearly HUF 585 billion more than a year earlier.
Spending on state-run transport and public utility services also rose sharply. Payments in this category totalled HUF 2,652.3 billion, exceeding the 2024 figure by HUF 344.5 billion, partly due to contractual changes affecting availability fees for the motorway network. Support for household energy price protection remained broadly unchanged year on year.
Huge expenditure
Social spending continued to climb as well. By the end of December, including the 13th-month pension, total expenditure on pensions and pension-like benefits reached HUF 7,300.6 billion, while spending on curative and preventive healthcare amounted to HUF 2,916.3 billion.
It is worth noting that the NGM reports cash-flow-based deficit figures, which reflect actual payments made and received during the year. Accrual-based data published by the Central Statistical Office (KSH) typically show a different picture. According to the KSH, net government borrowing amounted to only HUF 1,219 billion in the first three quarters of the year, although analysts expect a sharp jump in the final quarter due to year-end spending.
Commenting on the widening gap, Minister Gergely Gulyás said that final, precise data will only be available in the coming months, adding that the government still hopes to meet its revised 5% deficit target once all calculations are completed.
Plunged – through the name Victor Mihaly. Orban and his Fidesz Government, in the combination nearing (20) twenty years as the Prime Minister of Hungary – his two Prime Ministerships that represents “beyond reasonable doubt” the “new age” abyss that Victor Mihaly. Orban his Fidesz Government have DELIVERED to Hungary.
It worsens the depth nadir of the abyss, and as FACT’s are “tabled” disclosed exhibited to the people of Hungary, we know the “hiding” under the table, through Victor Mihaly. Orban his Fear of Truth as is the Creed of his and the party government he leads Fidesz their FEAR of Truth.
Orban, through “heinous” failings, his platform the distillation of DEMOCRACY in Hungary the weakening near eradication of dialogue with the people millions of Hungarians, is often deepened “in the name of Freedom of Expression, yet in closer inspection Victor Mihaly. Orbans “practice” the opposite is TRUE, because Freedom is protected – when language(s) is are anchored in TRUTH.
Victor Mihaly. Orban from what he stood in front of millions of Hungarians “mouthed off” that was NOT of TRUTH but fabricated lies – to all of Europe and to the Global World in Hero’s Square in June 16th of 1989 we have been Hungarians the country of Hungary the Victim’s of his treachery.
Victor Mihaly. Orbans “claim” of being a peacemaker is a “mockery” of the word Peace.
Orban is the personification that even those that wage war, that he Orban is a “feeder” of war into war through his Putin/Russia “brotherhood” practiced by his Fidesz Government, his “inner sanctum and Oligarchy, that ultimately desire PEACE – yet the PEACE they talk is not Peace of a “shared” good but PEACE as possession “carved” or “sculptured” into my discernment of the word PEACE.
Hungary – our FUTURE that grows in being PERSONIFIED that the name come spring of 2026 – can’t happen the name Victor Mihaly. Orban and Fidesz being returned as the Government of Hungary.
Victor Mihaly. Orban and the Fidesz Government have Nothing, absolutely NOTHING, nothing to give nor offer to the FUTURE of Hungary – NOTHING.
It’s a masterclass in misdirection: while the national budget bleeds €28,000 a minute, the government’s main concern seems to be who’s flying a flag at City Hall.
They’ll rage against Brussels’ waste as they preside over this financial hemorrhage, all while campaigning on the imminent danger of… migrants in Budapest. While forgetting about the real migrants, Hungarians leaving the country!
It’s like the captain of the Titanic giving a furious speech about the poor quality of the deck chairs. The economy is in freefall, but don’t worry—your pension will have a 14th month, provided the state hasn’t bankrupted itself by the time you retire.
Fidesz is driving the country into economic oblivion. Meanwhile Poland now booming despite taking in more that a million Ukrainian refugees. Poland is firmly outside of the Russian orbit while Fidesz draws Hungary closer in the Russian orbit bringing with it deeper corruption and economic decline. That’s what you get when you ally yourself with Russia.