András Kármán announces 5 trillion forint Treasury Single Account balance

Hungarian Finance Minister András Kármán announced that the balance of the Treasury Single Account (KESZ) has risen above 5,000 billion forints. This marks a significant increase from the level of under 1,000 billion forints present when the new government took office.

Kármán noted that the previous low liquidity limited the state's maneuverability, potentially forcing reliance on expensive credit for unexpected expenses. The current balance is intended to serve as a security reserve to allow for more predictable fiscal management.

Regarding the budget deficit, the state deficit increased by 2,311 billion forints in August, bringing the total for the first eight months to 5,200 billion forints. This figure represents 122 percent of the original target set by the previous administration, but 72 percent of the revised target submitted by the current government.

A large portion of the August deficit—approximately 2,200 billion forints—is attributed to pre-financing requirements related to the EU's Recovery and Resilience Facility (RRF). While these funds were paid out by the state, the corresponding revenues are expected to arrive later, likely in December.