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Q2 State Debt Ratio Reaches 75%

Debt

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Hungary's state debt relative to GDP had reached 75% of the year-end target by the end of the second quarter, according to preliminary data released by the National Bank of Hungary (MNB) on its website Friday.

The ratio was slightly up from 74.9% at the end of Q1. Hungary's constitution stipulates that year-end state debt relative to GDP must decline until the proportion reaches 50%.

In absolute terms, Hungary's gross state debt stood at HUF 52.727 trillion at the end of Q2, up from HUF 51.175 tln at the end of March.

The MNB data shows the general government's net financing requirement, a good approximation for the general government deficit, reached HUF 691 billion in Q2, equivalent to 3.8% of quarterly GDP.

Households' net financing capacity reached HUF 2.034 tln, equal to 11.2% of GDP during the period. Households' net financial worth was equivalent to 105.3% of GDP at the end of the quarter.

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