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MNB: Hungary external financing capacity reaches 8.3% of GDP in 2014

Analysis

Hungaryʼs fourth-quarter external financing capacity rose to 8.3% of GDP last year, with a €4.3 bln surplus of the current and capital accounts, the National Bank of Hungary (MNB) said in an annual report on balance of payments published today.

The high year-end external financing capacity was combined with a substantial decline in the external debt while the net FDI inflow seen in the previous quarter continued. The year-end improvement in the external savings position was mainly due to the rise in corporate savings and the declining general government financing requirement, while the persistently high level of household savings also contributed to the substantial external financing capacity.

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