MNB: Hungary’s Maastricht debt falls to 76.9% at end-2014
Hungaryʼs gross consolidated general government debt, calculated at nominal value, in line with Maastricht methodology, reached 76.9% of GDP at the end of 2014, down from 77.3% a year earlier, a second reading of data published by the National Bank of Hungary (MNB) today reveals.
Preliminary data published in February showed the debt stood at 77.3% at the end of last year, unchanged from the end of 2013.
Hungaryʼs Constitution requires year-end state debt as a percentage of GDP to decline until a 50% cap is reached.
In nominal terms, gross consolidated general government debt came to HUF 24.525 trillion at the end of 2014.
The net general government financing requirement, which is a good approximation of the general government deficit, was HUF 803 bln or 2.5% of GDP in 2014.
Net lending of households came to 5.9% of GDP and net lending of non-financial companies reached 3.5%. The financial accounts data show the rest of the world had a net financing requirement of 7.2% of GDP.
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.