Finance Minister: Hungary debt management reaps ‘The Banker’ award

The Banker magazine has awarded Hungary The Banker’s Deals of the Year Awards 2022, for a bond transaction in September 2021, which the magazine said capitalised on a low-rate environment and strong demand for central and eastern European (CEE) assets.

In a Facebook post on Thursday, Finance Minister Mihály Varga said Hungary had also bought back bonds worth 430 million dollars and 2,000 billion forints, paying its debt ahead of time.

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“After growing state debt during the pandemic, we managed to reduce it to 76.8 percent of GDP,” Varga said.

“State debt management has been a forte of Hungary’s economic policy in the past decade,” Varga added, congratulating the state debt management centre (AKK).