Hungary State Debt Ratio Falls to 73.5% at End-2022 - Varga 

Debt

Mihály Varga

Image by Alexandros Michailidis / Shutterstock.com

Hungary's state debt relative to GDP fell to 73.5% at the end of last year from 76.8% at end-2021, Finance Minister Mihály Varga said in a post on Facebook on Tuesday.

Varga said the decline was bigger than expected.

He also said the fiscal deficit was 4.9% of GDP last year, in line with the target, while it reached 6.1% of GDP calculated with gas in reserves.

"We'll continue the improvement of balance indicators this year, too: we count on declining state debt and a lower deficit," he added.

The National Bank of Hungary (MNB) will publish preliminary data on year-end state debt for 2022 on February 20.

The latest data released by the central bank show state debt stood at 75.3% of GDP at the end of Q3.

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