Report: Hungary FX debt ratio set to fall under one-third

MNB

The proportion of Hungaryʼs state debt in foreign currency is set to fall from 33% to 32% by year-end and to under 25% by 2017, György Barcza, CEO of the Government Debt Management Agency (ÁKK), said in an interview in today’s issue of daily Magyar Hírlap.

"It is my goal to bring the FX debt ratio to 10% within the foreseeable future," the CEO said. He reiterated plans to pre-finance as much as €1.2 bln of debt maturing next year during this year.

He said interest expenditures on Hungaryʼs state debt could fall below 3.5% of GDP next year, down from over 4% five years earlier.

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