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Hungary state debt at 74% of GDP at the end of H1

Hungary state debt at 74% of GDP at the end of H1

BUDAPEST: Hungary’s state debt, calculated according to the Maastricht rules, stood at 74 percent of GDP at the end of June, down from 74.3 percent of GDP at the end of March, the National Bank of Hungary said on Thursday, concerning Hungary’s preliminary financial accounts.

The state debt ratio fell from 75 percent in the second quarter of 2017 compared to the same period a year earlier. In nominal terms, the state debt reached 26,706 billion forints (EUR 88bn) at the end of the second quarter. It rose from 26,451 billion forints at the end of the first quarter. Net borrowing increased the nominal figure by 305 billion forints, but revaluations decreased it by 49 billion forints in the second quarter.