Are you sure?

Hungary net govt financing requirement 5.2% of GDP in 2011 without pension transfer

Hungary's general government net financing requirement reached 6.1% of GDP in the fourth quarter of 2011 and reached 5.2% of GDP for the full last year, excluding the effect of transfers of private pension fund assets to the state, the National Bank of Hungary said in a second reading of financial account data on Monday.

In Q3, the general government had a net financing requirement equivalent to 3.2% of GDP in the quarter.

Including the pension assets transfer -- a capital transfer from households to the government, worth 9.5% of GDP -- Hungary had a general government net financing capacity of HUF 1,201 billion or 4.3% of GDP in 2011.

Gross state debt, under the Maastricht definition, fell from 82.6% of GDP at the end of Q3 to 80.6% of GDP, or HUF 22,692 billion, at the end of Q4 2011.