The Hungarian government's net borrowing stood at HUF 127bn (EUR 410.8mn) in Q4 2013 equalling to 1.6% of the quarterly GDP, according to preliminary financial accounts data, published by the central bank. In cumulative terms, net borrowing amounted to HUF 741bn, or 2.5% of the GDP, in 2013.
The central government had a net financing requirement of HUF 72bn in Q4. On the assets side, deposits with the central bank and tax receivables from companies fell sharply, while trade receivables increased significantly. On the liabilities side, holdings of government securities by the corporate sector and other monetary financial institutions fell due to transactions, while purchases of government paper by non-residents increased sharply
The local governments had a positive balance, as net lending stood at HUF 7bn. Similarly, the social security funds had a net lending of HUF 61bn in Q4 2013.
Hungary’s consolidated gross debt at nominal value, or the so-called Maastricht debt, stood at HUF 23,068bn, accounting for 79% of the GDP at end-2013, down from 80.2% at end-September 2013.
Related Articles
Eurozone manufacturing growth hits four-year high in April but Middle East war drives record price surge
Eurozone manufacturing activity expanded at the fastest pace in nearly four years in April as factories rushed to build safety stocks ahead of expected price rises and supply shortages linked to the ... more
Druzhba oil flow to Slovakia and Hungary is renewed
The oil flow from the Russian Druzhba pipeline was renewed late on August 19. “The flow of oil to Slovakia is standard at the moment,” the country’s Minister of Economy Denisa Saková (Hlas) ... more
US Westinghouse could develop electricity storage site near Slovak Gabčíkovo hydroelectric power plant
US power company Westinghouse is reportedly in talks with the Slovak government to develop a new type of electricity storage site near the Gabčíkovo hydroelectric power plant (HPP) on the Danube ... more