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Gap between GNI and GDP widens in Hungary

The gap between Hungary's gross national income (GNI) and the GDP widened to more than 7% in 2006 from 6% in both 2005 and 2004 mainly due to increasing outflow in the balance of capital incomes, according to a Central Statistical Office (KSH).

Foreign investors have been reinvesting a decreasing proportion of their capital revenue in Hungary, Csák Ligeti, head of the KSH's department of national accounts said on Tuesday.

The KSH study said Hungary's gross budget debt was 66% of the GDP in 2007, compared to an average of 58.7% in the 27 EU countries. Average state debt in countries in the euro-zone was 66.3% of the GDP in 2007.

Consumer prices increased 7.9% in Hungary during 2007 and 24% between 2004 and 2007, while energy prices rose 60% between 2004 and 2007, the study showed. Food prices increased about 33%, while prices of consumer durables underwent a steady decrease since 2003, the study showed. (MTI – Econews)