articleimg-1
Dec 29, 2017

Hungary’s public debt has dropped to 72.4 percent of GDP

Hungary’s public debt has dropped to 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 has announced

Hungary’s public debt has dropped to 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 has announced.

According to MTI, the bank said that the official figures were calculated according to Maastricht rules.

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

What's more, 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 HUF, the data shows.