Hungary’s state debt reaches 74.2% of GDP in Q3

MNB

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Hungaryʼs state debt stood at 74.2% of GDP at the end of Q3, down from 75.0% at the end of Q2, and 74.7% at the end of last year, preliminary data released today by the National Bank of Hungary (MNB) show, according to Hungarian news agency MTI.

The figures reflect consolidated gross general government debt at nominal value, excluding other liabilities, in line with Maastricht rules. 

In absolute terms, state debt stood at HUF 25,883 billion at the end of the quarter, compared to HUF 25,908 bln at the end of June and HUF 25,402 bln at the end of last year. In Q3, the downward revaluation of foreign currency debt reduced state debt by HUF 178 bln, but this was partially offset by net borrowing of HUF 153 bln.

Net liabilities of the general government came to HUF 22,589 bln, or 64.7% of GDP, at the end of the quarter.

The net general government financing capacity, which is a good approximation of the general government deficit, was HUF 8 bln in the four quarters to Q3, equivalent to 0.02% of GDP.

In Q3 alone, the central government was a net lender to the tune of HUF 315 bln. Net lending of local governments came to HUF 64 bln, while the social security funds were net borrowers of HUF 33 bln.

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