Hungary State Debt Ratio Rises to 74.9% at End of Q1

Debt

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Hungary's state debt relative to GDP reached 74.9% at the end of the first quarter, a second reading of data released by the National Bank of Hungary (MNB) on Friday shows, according to a report by state news wire MTI.

The ratio is higher than the 73.3% figure in preliminary data released on May 18.

The ratio increased from 73.3% at the end of Q4 but fell from 76.9% at the end of Q1 2022.

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 51.175 trillion at the end of Q1, HUF 2.341 tln higher than at the end of Q4, and HUF 6.876 tln more than at the end of Q1 2022.

MNB data show the general government's net financing requirement - a good approximation for the general government deficit - was HUF 5.449 tln in the last four quarters, equivalent to 8% of GDP.

Net lending capacity of Hungarian households reached HUF 3.178 tln in the last four quarters. Households' net financial worth stood at HUF 72.072 tln at the end of Q1.

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