Hungary receives award for successful debt management
London-based GlobalCapital has awarded Hungary in two categories for its successful debt management, the finance minister said on Facebook on Tuesday.
Mihály Varga said Hungary had been recognised, for the second successive year, as central and eastern Europe’s “most impressive” bond issuer, while Zoltán Kurali, head of the State Debt Management Centre, was acknowledged as the best expert in the field by GlobalCapital, MTI reports.
The minister pledged further efforts aimed at reducing Hungary’s state debt below 67 percent of GDP next year, “a full 10 percentage points below the European Union average”.
Below is Mr Varga’s Facebook post announcing the good news:
Always good to check the field when people are throwing around percentages (debt to GDP). Also question how our (quite impressive) inflation influences this – should be adjusted, accordingly (especially if we target 10% reduction if the inlfation stays above, say, 10% per annum):
https://tradingeconomics.com/country-list/government-debt-to-gdp?continent=europe
Re reducing debt – considering we’re paying the highest interest of all of the European Union, that’s probably a good thing. Would be good if that ship with EU cash would finally arrive, though (and question how this is factored in).
https://www.ecb.europa.eu/stats/financial_markets_and_interest_rates/long_term_interest_rates/html/index.en.html
Hungary will never receive a penny from the EU. The EU will always find a new excuse. The next excuse to withhold money will be that the average Hungarian is less than 8 feet high. Money destined for Hungary have already been spent in Ukraine. Hungary must figure out how to grow its economy and how to exists without EU funds and possibly without EU membership.
@mariavontheresa – how much did Hungary receive from the EU since we joined? Our “net benefit”? Come on – hazard a guess!