MNB: Hungaryʼs Maastricht debt reaches 79.6% at end-Q2
Hungaryʼs gross consolidated general government debt, calculated at nominal value, in line with Maastricht methodology, reached 79.6% of GDP at the end of the second quarter, the National Bank of Hungary (MNB) confirmed in a second reading of data today.
Debt rose 77.6% at the end of Q1 but was down 82.7% compared with 12 months earlier, the bank said.
In nominal terms, gross consolidated general government debt came to HUF 25,878 bln.
The weaker forint accounted for HUF 508 bln of the increase in general government debt and transactions for HUF 397 bln. Among transactions was HUF 195 bln borrowed from the Hungarian Development Bank (MFB) to acquire Budapest Bank, MNB said.
Net liabilities of the general government sector amounted to HUF 22,897 bln or 70.4% of GDP at the end of Q2.
The net general government financing requirement, which is a good approximation of the general government deficit, came to HUF 330 bln or 1.0% of GDP in the four quarters to Q2.
Net lending of households reached 8.0% of GDP and net lending of non-financial companies 2.5% during the period. The financial accounts data shows the rest of the world had a net financing requirement of 7.3% of GDP.
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