ÁKK dep-CEO expects no plans for FX issues in 2016 either

Telco

Hungaryʼs Government Debt Management Agency (ÁKK) expects it will not plan any foreign issues next year, just as this year, deputy-CEO László András Borbély said at a conference yesterday.

"We donʼt plan any FX issues this year nor expect to next year. Instead, we will try to get the entire financing need from inside the country, in forints," Borbély said at Pécs Financial Days.

This will reduce foreign exposure, which appears to be appreciated by rating agencies, he added.

He noted that holdings of retail government securities had risen from just HUF 470 bln at the end of 2011 to HUF 2.5 trillion, to account for 17% of the total stock of government securities.

He attributed the increase to competitive prices, the introduction of new products, the expansion of the sales network and active marketing campaigns.

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