The ratio dropped from 77% at the end of Q2 and from 76.8% at the end of 2021.
Hungary's constitution stipulates that year-end state debt relative to GDP must decline until the ratio reaches 50%.
In absolute terms, Hungary's state debt stood at HUF 47.884 trillion at the end of Q3, HUF 1.627 tln higher than at the end of Q2.
MNB data show the general government's net financing requirement – a good approximation for the general government deficit – reached HUF 815 bln in Q3, equivalent to 4.8% of quarterly GDP.
Households had a net financing requirement of HUF 98 bln in Q3, equivalent to 0.6% of quarterly GDP, as transactions reduced forint deposits and holdings of government securities, while the stock of home loans rose. Households' net financial worth was equivalent to 107.5% of GDP.
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