Net general government borrowing 1.0% of GDP for year ending in June

MNB

According to preliminary financial account figures, net general government borrowing was HUF 339 bln in the twelve months leading up to the end of Q2 of this year, equal to 1.0% of GDP including a HUF 90 bln financing requirement, 1.1% as a percentage of GDP, in the second quarter of 2015, the National Bank of Hungary (MNB) said today, according to Hungarian news agency MTI.

Maastricht debt stood at 79.6% of GDP at the end of June, up from 76.9% at the end of last year, but down from the 82.7% of the previous year. In the second quarter, gross borrowing transactions raised public debt by HUF 397 bln to HUF 25.881 trillion, while depreciation of the forint increased the forint term amount by HUF 508 bln.

Net liabilities of the general government totaled HUF 23.132 trillion at the end of June, or 71.2% of GDP.

The central government had net financing requirements of HUF 46 bln in the second quarter of 2015. Local governments had net financing requirements of 75 bln and the social security funds had net lending of HUF 31 bln.

Net household lending in the second quarter amounted to HUF 571 bln or 7.0% of GDP as the forint conversion and settlement of part of the foreign currency mortgages were deferred to the second quarter.

In the twelve months leading up to the end of June, net household lending was HUF 2.502 trillion, equivalent to 7.7% of GDP, the preliminary MNB report shows.

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