Hungary had a general government deficit of HUF 566.7 billion or 2.0% of GDP last year, the Central Statistics Office (KSH) said on Friday. The deficit ratio was below not only the upward revised 2.7% target but was also lower than the original 2.5% of GDP plan. KSH said it had reported the figures, based on ESA95 methodology in line with the rules of the European Union’s, to the European statistical office Eurostat, in line with the rules on excessive deficit procedure. The figures are based on preliminary national account data.
Gross state debt, calculated in line with Maastricht criteria by the National Bank of Hungary (MNB), was HUF 22,381 billion or 79.2% of GDP at the end of 2012, the statistics office said. The year-end gross debt figures are slightly up from a preliminary HUF 22,373 billion or 79.0% of GDP, released by the MNB in a first reading in the middle of February. The gross debt ratio fell from 81.4% at the end of 2011.
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