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Agribusiness debt grew by more than HUF 1 bln yr/yr in H1

The total debt of agribusinesses in Hungary grew by HUF 1.2 billion to the end of June 2010 from June of last year as a result of a weaker forint, although foreign-currency-denominated debt decreased to 22% of the total HUF 340 billion in outstanding debt from 24% a year ago, according to a new booklet by Agribusiness Research Institute (AKI).

The total debt of agribusiness was on average 4.3% of the total debt owed by all companies registered in Hungary in Q2, compared to 4.4% in Q1 and 4.2% last year.

Agribusinesses as a whole are among the most reliable of all companies in Hungary in terms of debt repayment, AKI said. (MTI – Econews)