Hungarian government debt ratio drops to 75.9% at end of third quarter

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Hungary’s state debt to GDP reached 75.9% at the end of the third quarter, according to preliminary data released by the National Bank of Hungary (MNB) on Friday, according to a report by the Hungarian newswire. MTI status.

The ratio fell from 77% at the end of the second quarter and from 76.8% at the end of 2021.

The Hungarian constitution stipulates that year-end public debt to GDP must decrease until the ratio reaches 50%.

In absolute terms, Hungary’s public debt stood at 47,884 billion HUF at the end of the third quarter, 1,627 billion HUF more than at the end of the second quarter.

MNB data shows that the general government net borrowing requirement – a good approximation of the general government deficit – reached HUF 815 billion in the third quarter, or 4.8% of quarterly GDP.

Households had a net borrowing requirement of HUF 98 billion in the third quarter, or 0.6% of quarterly GDP, as transactions reduced forint deposits and holdings of government securities, while outstanding housing loans declined. increase. The net financial worth of households was equivalent to 107.5% of GDP.


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John A. Bogar