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Hungary’s external financing requirement €2.517 bln

Hungary's foreign financing requirement - calculated from the current account and the capital account - was €7.781 billion in 2008 including € 2.517 billion in Q4, the Hungarian Central Bank (MNB) announced in its preliminary current account report.

Figures compare to an unadjusted financing requirement of €5.462 billion in 2007 and € 1.095 billion in the fourth quarter of 2007.

Seasonally adjusted financing requirement was €2.247 billion in Q4 2008 after €1.905 billion in Q3 and compared to €1.452 billion in the last three months of 2007.

The current account deficit was €8.902 billion for all of last year, including €2.584 billion in Q4. Hungary's c/a deficit was €6.602 billion in 2007 and €1.444 billion in Q3 2008.

Analysts in a March Reuters poll put the Q4 current account deficit at €1.76 billion and analysts surveyed by business daily Napi Gazdaság put the figure at €1.6 billion.

The seasonally adjusted current account deficit rose to €1.952 billion in Q4 from €1.802 billion in the preceding quarter and €1.560 billion in Q4 2007. (MTI – Econews)