Hungary’s state debt grows to 76.9% of GDP in Q1

Telco

Hungaryʼs state debt, calculated according to Maastricht rules, grew to 76.9% of GDP at the end of March, from 75.3% at the end of last year, preliminary data released by the National Bank of Hungary (MNB) today reveal, according to Hungarian news agency MTI.

According to data published by the central bank, state debt in nominal terms reached HUF 26.147 trillion at the end of Q1, rising by HUF 753 bln from the end of 2015. Net borrowing accounted for HUF 751 bln of the increase, MTI reported. 

The governmentʼs net liabilities rose HUF 265 bln to HUF 23.690 trillion, or 69.7% of GDP, up 0.2 of a percentage point after reaching a three-year low at the end of last year, MTI added.

Within the general government, the central government net financing requirement was HUF 129 bln, while local councils had net financing capacity of HUF 102 bln and the social insurance funds had net financing capacity of HUF 23 bln, according to MTI.

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