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Hungary State Debt Ratio Steady at 73.3%

Debt

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Hungary's state debt relative to GDP reached 73.3% at the end of the first quarter, preliminary data released by the National Bank of Hungary (MNB) on Thursday show.

The ratio was unchanged from the end of 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 gross state debt stood at HUF 51.175 trillion at the end of Q1, up from HUF 48.834 tln at end-2022.

MNB data show the general government's net financing requirement - a good approximation for the general government deficit - reached HUF 2.02 tln in Q1, equivalent to 11.9% of quarterly GDP.

Households' net financing capacity reached HUF 1.434 tln, equivalent to 8.5% of GDP during the period.

Households' net financial worth was equivalent to 103.2% of GDP at the end of the quarter.

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