Hungary’s net general government borrowing 1.9% of GDP

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According to preliminary financial data, net general government borrowing was HUF 610 bln in the twelve months leading up to the end of Q1, amounting to 1.9% of GDP including HUF 61 bln in financing requirement, or 0.8% of GDP, in the first quarter of 2015, the National Bank of Hungary (MNB) said today.

Maastricht debt stood at 77.2% of GDP at the end of March, up 0.3% from the end of last year, but down 5.1 percentage points from a year earlier. In the first quarter, gross borrowing transactions raised public debt by HUF 897 bln to HUF 24.976 trillion, while appreciation of the forint reduced the forint term amount by HUF 440 bln.

Net liabilities of the general government totaled HUF 23,315 bln at the end of March, or 72.1% of GDP, as compared to 72.9% at the end of last year, but was up from 68.9% recorded a year earlier.

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