Hungary international reserves boosted by EU funds, EIB loan and pension assets sales

MNB

The international reserves of the National Bank of Hungary (MNB) rose sharply in the third quarter because of big net EU transfers, a European Investment Bank (EIB) loan and the sale of some assets earlier transferred to the state from private pension funds, the MNB said in its quarterly report published on Friday.

The reserves rose by €1.8bn in the quarter despite the €1.88bn spent by the government on the purchase of a 21.2% stake in Hungarian oil and gas company MOL in July and the fact there were no foreign bond issues in the period.

The reserves rose to €38.8bn, a new record, at the end of September.

ADVERTISEMENT

17% of homeowners plan renovations this year Analysis

17% of homeowners plan renovations this year

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.