Hungary debt management stable, says finance minister
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The management of Hungary’s public debt is stable and based on several pillars, Mihály Varga, the finance minister, said in a YouTube video on Monday.
Next year does not harbour any notable risks, and major reserves are at hand just in case, he said.
The government’s principles for how to manage debt followed so far will be adhered to in the future too. He added that the ratio of FX debt to the total is falling, and more and more domestic investors are involved in state financing.
The net financing requirement next year is expected to amount to 3,332 billion forints, and half of this is planned to be raised on the forint bond market.
Also, a new 30-year green forint bond issue is planned.
Varga said the global economic downturn was more severe this year than in 2008. He noted the government had to provide immediate job and business support and recovery aid, all of this amounting to around 28 percent of GDP.