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Hungary public debt declines to 72.4 pc at end of the third quarter

Hungary public debt declines to 72.4 pc at end of the third quarter

Hungary’s public debt, calculated according to Maastricht rules, stood at 72.4 percent of GDP at the end of the third quarter, down from 73.6 percent at the end of the second quarter, the National Bank of Hungary said in an updated report on financial accounts data released on Friday.

In nominal terms, state debt rose to 26,956 billion forints (EUR 87bn) from 26,910 billion forints during the period. Net redemptions reduced the amount by 8 billion forints but revaluations added 54 billion forints to the total.

The net financing requirement of the general government, which is a good approximation of the budget deficit, was equivalent to 2.3 percent of GDP in the four quarters to the end of Q3.

In nominal terms, the net financing requirement reached 857 billion forints, the data show.

Source: MTI

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