Hungary Maastricht debt falls to 76.9pc at end-2014
Budapest, March 31 (MTI) – Hungary’s gross consolidated budget deficit reached 76.9 percent of gross domestic product (GDP) at the end of 2014, down from 77.3 percent a year earlier, a second reading of data published by the National Bank of Hungary (NBH) on Tuesday shows.
The deficit data was calculated at nominal value and in line with Maastricht methodology.
Preliminary data published in February had shown the debt stood at 77.3 percent at the end of last year, unchanged from the end of 2013.
Hungary’s Constitution requires year-end public debt as a percentage of GDP to decline until a 50 percent cap is reached.
The net public financing requirement, which is a good approximation of the public finance deficit, stood at 803 billion forints (EUR 2.68bn) or 2.5 percent of GDP in 2014.
Source: http://mtva.hu/hu/hungary-matters
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