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Hungary’s gross debt 79.0% at end of 2012

Hungary's gross state debt, according to the Maastricht definition, was HUF 22,373 billion or 79.0% of GDP at the end of 2012, the National Bank of Hungary (MNB) said in a first reading of financial account data on Monday. The appreciation of the forint reduced the debt by HUF 690 billion and net borrowing increased it by HUF 373 billion last year, the MNB said. The debt ratio rose slightly from 78.6% at the end of Q3 while dropped from 81.4% at the end of 2011. General government net financing requirement reached 3.3% of GDP in the fourth quarter of 2012 and was 2.1% of GDP in 2012