Hungary to double bond sales next year to $5.4 bln
Hungary announced its increased debt issue plan two days after Fitch Ratings lowered its rating for the country. The rating change and increased supply of bonds may add to the government's struggle to reduce the biggest budget gap in four years. The government will raise a total of Ft 7.2 trillion in debt next year, including the repayment of existing debt, Borbély said. The share of foreign-currency denominated debt will drop to 8% from this year's 15%, as Hungary cuts non-forint debt issues by 38% next year.
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