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Hungary general gov't net financing requirement 5.5% of GDP in four quarters ending Q2

General government net borrowing was equal to 5.0% of Hungary’s GDP, or HUF 1,345 billion, in the four quarters to 2010 Q3. General government consolidated gross debt at nominal value amounted to 81.4% of GDP, or HUF 21,735 billion, at the end of 2010 Q3, preliminary figures published by the National Bank of Hungary (MNB) show.

General government net debt, HUF 16,517 billion, amounted to 61.9% of GDP at the end of 2010 Q3.

The net financing requirement of Hungary's general government totaled HUF 1,448 billion or 5.5% of GDP in the four quarters ending Q2 2010.

The four-quarter net financing requirement was up from 4.8% of GDP in both the four quarters ending Q1 2010 and for the full year of 2009.

Hungary's gross consolidated general government debt at nominal value - government debt calculated according to the Maastricht criteria - stood at HUF 22,094 billion or at 83.7% of GDP at the end of June 2010.

Maastricht debt rose HUF 1,673 billion from the end of 2009 when it stood at 78.4% of GDP.

Net general government financing requirement is a good approximation of the ESA '95 general government deficit, published by the Central Statistical Office (KSH), except that the MNB statistics account the central bank's eventual profit or loss as re-invested profit or loss of the general government. The remaining gap between the accrual-based KSH deficit figure and that of the MNB reflects statistical error. (MTI – Econews)