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

Image by xtock / Shutterstock.com

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.

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing decent journalism is an expensive business. For 27 years, the editors, editors and reporters of Budapest Business Journal have strived to bring you business news that works, information you can trust, that is factual, accurate and presented without fear or favour.

News organizations around the world are struggling to find a business model that allows them to continue to excel, without compromising their ability to perform. More recently, some have experimented with the idea of ​​involving their most important stakeholders, their readers.

We would like to offer this same opportunity to our readers. We would like to invite you to help us provide the quality business journalism you need. Hit our Support the BBJ button and you’ll be able to choose how much and how often you send us your contributions.


Source link

John A. Bogar