Hungaryʼs state debt reaches 77.2% of GDP in March

MNB

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Hungaryʼs state debt, calculated according to Maastricht rules, stood at 77.2% of GDP at the end of March, data released by the National Bank of Hungary (MNB) today show, according to Hungarian news agency MTI.

In nominal terms, state debt reached HUF 26,148 billion, lifted by net borrowing, the MNB said. Revaluation reportedly impacted the level by only HUF 2 bln. 

The relative figure was revised up from 76.9% in a preliminary reading released on May 17. The change reflects lower GDP, as the revised nominal debt was practically level with the preliminary figure.

Hungaryʼs year-on-year GDP growth slowed to 0.9% in Q1 this year from 3.2% in Q4, 2015.

Net liabilities of the general government amounted to HUF 23,496 bln or 69.4% of GDP at the end of the first quarter. 

The net financing requirement of the general government came to HUF 425 bln or 1.3% of GDP in the four quarters to the end of Q1. In Q1 alone, the general government deficit, calculated from the financing side, was HUF 18 bln or 0.2% of quarterly GDP.

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