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Hungary’s net foreign debt up €9.721 bln in 2007

Hungary’s net foreign debt (excluding ‘other capital’ within direct investment) rose €9.721 billion in 2007 to €40.716 billion at the end of last year, National Bank of Hungary (MNB) report revealed on Monday.

Net foreign currency denominated external debt rose from €20.040 billion at the end of 2006 to €27.587 billion at the end of last year. Within this public debt of the general government and the central bank rose €808 million last year to €2.230 billion at the end of December 2007, MNB figure show. Public foreign debt in forint denominated bonds rose from €11.673 billion to €12.927 billion.

Hungary’s preliminary current-account deficit was €5.060 billion in 2007, including a €1.113 billion deficit in Q4, the central bank announced. The 2007 c/a deficit narrowed €386 million from €5.446 billion in 2006, and the Q4 deficit fell from €1.321 billion in Q3 and €1.178 billion in Q4 2006.

The seasonally-adjusted Q4 c/a deficit was €1.116 billion, compared to €1.185 billion in the previous quarter. The seasonally-adjusted net financing requirement was €885 million in Q4, as compared to €883 million in Q3 and €1.092 billion in Q4 2006. In line with its regular practice, the central bank released revised balance of payment figures for the second and third quarters of 2007. (MTI-Econews)