Hungary net external financing capacity reaches €1.070bn in Q2

Telco

Hungary's net external financing capacity came to €1.070bn (HUF 285bn) in the second quarter, the National Bank of Hungary (MNB) said on Friday in its quarterly balance of payments report.

Adjusted for seasonal effects, the external financing capacity -- the combined surplus on the country's current and capital accounts -- was 3.3% of GDP (HUF 232bn).

The seasonally-adjusted data show the surplus of goods and services continued to grow in 2011, but at a slower pace than in previous quarters. In Q2, the surplus on goods and services continued to exceed the income account deficit, but seasonally-adjusted export revenue and import expenditures fell from the previous quarter, the MNB said.

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Tech