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Hungary general govʼt contingent liabilities at 17.5% of GDP

Contingent liabilities of Hungaryʼs general government, such as government guarantees, liabilities related to off-balance public-private partnerships (PPPs) and liabilities of government-controlled entities classified outside of the general government, came to the equivalent of 17.5% of GDP in 2017, shows a summary of data released by Eurostat, the EUʼs statistics office.

Contingent liabilities are not included in state debt, according to European Union rules, reported state news wire MTI.

Hungaryʼs government guarantees reached the equivalent of 5.1% of GDP in 2017, while liabilities related to PPPs came to 1.5% of GDP. Liabilities of government-controlled entities classified outside of the general government stood at 10.9% of GDP, down sharply from 14.3% of GDP in 2016, and 20.5% of GDP in 2015, Eurostat data show.

In a regional comparison, the liabilities of government-controlled entities classified outside of the general government varied widely. These were 10.6% for the Czech Republic, 41.7% for Poland, and 5.7% for Slovakia, relative to GDP.