ÁKK reaches 83% of annual financing target at end-Sep
Hungaryʼs Government Debt Management Agency (ÁKK) on Thursday said it reached 83% of the financing target in its modified annual issue plan for the year at the end of September, according to a report by state news wire MTI.
The ÁKK building.
ÁKK modified the 2020 financing plan late in August to accommodate spending on pandemic defense and government stimulus.
It noted that the Finance Ministry had raised its target for the full-year cash flow-based general government deficit to HUF 3.6 trillion, up from a HUF 1.89 tln target when ÁKK issued the previous modification of its 2020 financing plan late in May.
Charts in ÁKKʼs release on Thursday show issues, including switch auctions, reached HUF 9.105 tln at the end of September, compared to a HUF 10.956 tln full-year target.
In the modified financing plan released late in August, AKK put total gross issuance at HUF 11.946 tln for the full year.
The charts in ÁKKʼs release on Thursday show issues of forint bonds for institutional investors reached HUF 3.957 tln at end-September, 80% of the HUF 4.968 tln full-year target.
Issues of forint bonds for retail investors reached HUF 3.53 tln, 85% of the HUF 4.165 tln full-year target.
Issues of FX bonds on international markets stood at HUF 1.406 tln, practically level with the full-year target. AKK noted that its strategic target to keep FX debt under 20% of total state debt remains in place.
The stock of retail securities held by households reached HUF 8.619 tln at the end of September, up from HUF 7.916 tln at the end of last year. Including holdings by institutional investors of such securities, retail securities stock stood at HUF 8.981 tln at end-September.
ADVERTISEMENT
Hungarian Employers Planning Avg Wage Raise of 12%
Gov't Keeps Rate on General-purpose Student Loans at 7.99%
Wolf Theiss Advises Kyoto Group on HaaS Delivery to Kall Ing...
4-legged Guests Welcome at Hungary's 1st Hampton by Hilton
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.
