Hungary's debt ratio reaches 85.1% of GDP (UPDATE)
Hungary's gross consolidated government sector debt, calculated at nominal value, in line with Maastricht methodology, reached HUF 25,432bn, or 85.1pc of GDP, at the end of June, Hungarian news agency MTI reported today by citing preliminary data on financial accounts published by the National Bank of Hungary.
Transactions raised the debt by HUF 434 bln during the period. The weaker forint boosted it by HUF 65 bln.
The debt ratio rose from 84.4% at the end of March and 79.4% at the end of 2013.
The general government net financing requirement was HUF 302 bln in Q2, equivalent to 4.0% of quarterly GDP. The net financing requirement for the four quarters to Q2 was HUF 918 bln or 3.1% of GDP during the period.
Net borrowing of the central government came to HUF 264 bln in Q2. On the assets side, deposits with the central bank were up and some small acquisitions of shares were made. On the liabilities side, there were large issues of government bonds and liabilities to the European Union increased significantly, the central bank noted.
Net borrowing of local councils reached HUF 99 bln in Q2.
Â
ADVERTISEMENT
Hungary Trade Surplus at EUR 1 bln in October
Orbán Participates at Milei Inauguration in Buenos Aires
EV Demand Constantly Growing
Budapest Strings Celebrating Founder With Birthday Concert
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.
