Hungary repays €2 bln toward EU loan

MNB

Hungary has repaid €2 bln of a loan it took out from the European Commission in the autumn of 2008, the National Economy Ministry said on Friday. The repayment, made at the end of October, reduces the country's state debt as a percentage of GDP by 2.1 percentage points, the ministry said.

Hungary still owes €1.5 bln on the loan, which it must pay in 2016, the ministry said. The repayment in October was the second on the loan. The first was €2 bln made in Q4 2011. "The government is committed to maintaining the fiscal balance and reducing state debt," the ministry said.

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