Hungary repays €2 bln toward EU loan
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.
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.