Hungarian government debt ratio reaches 77.5% at the end of the second quarter

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Hungary’s state debt to GDP reached 77.5% at the end of the second quarter, state newswire MTI reports, citing preliminary data released Thursday by the National Bank of Hungary (MNB).

The ratio increased slightly from 77.4% at the end of the first quarter and 76.3% a year earlier.

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

In absolute terms, the Hungarian public debt amounted to 46.264 tln HUF at the end of the second quarter, 1.933 tln HUF more than at the end of the first quarter.

MNB data shows that the general government net borrowing requirement – a good approximation of the general government deficit – reached HUF 333 billion in the second quarter, or 2.1% of quarterly GDP.

The stocks of general government financial assets increased by 1.918 tln HUF, boosted by 1.164 tln HUF of transactions and 754 tln HUF of revaluations. General government liabilities increased by HUF 210 billion, increased by HUF 1.497 tln in transactions and decreased by HUF 1.287 tln in revaluations.

Households had a net financing capacity of 1.128 tln HUF in the second quarter, or 7% of quarterly GDP.

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John A. Bogar