Hungary State Debt Ratio Reaches 77.5% at End-Q2

Debt

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Hungary's state debt relative to GDP reached 77.5% at the end of the second quarter, state news wire MTI reports, citing preliminary data released by the National Bank of Hungary (MNB) on Thursday.

The ratio edged up from 77.4% at the end of Q1 and rose from 76.3% a year earlier.

Hungary's constitution stipulates that year-end state debt relative to GDP must decline until the ratio reaches 50%.

In absolute terms, Hungary's state debt stood at HUF 46.264 tln at the end of Q2, HUF 1.933 tln higher than at the end of Q1.

MNB data show the general government's net financing requirement - a good approximation for the general government deficit - reached HUF 333 bln in Q2, equivalent to 2.1% of quarterly GDP.

General government stocks of financial assets rose by HUF 1.918 tln, boosted by HUF 1.164 tln of transactions and HUF 754 bln of revaluations. General government liabilities increased by HUF 210 bln, lifted by HUF 1.497 tln of transactions and reduced by HUF 1.287 tln of revaluations. 

Households had a net financing capacity of HUF 1.128 tln in Q2, equivalent to 7% of quarterly GDP.

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