Hungarian government's net borrowing at 1.6% of GDP in Q4 2013.

By bne IntelliNews February 18, 2014

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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Finland gives final nod to construction of Nord Stream II

Finland has issued a second and final permit for the construction of the controversial Nord Stream II pipeline that is to pump gas from Russia directly to Germany via a Baltic Sea route, the Regional ... more

Lufthansa's arrival lifts economy of Hungary's second city

Three large German companies have chosen to invest in Debrecen, Hungary's second-largest city, since Lufthansa launched its first direct flight two years ago, it was announced on April 11.  ... ... more

Hungarian opposition parties bet on strong election turnout as cooperation talks stall

Green opposition party Politics Can Be Different (LMP) has suspended talks with fellow opposition parties after they failed to reach a cooperation agreement ahead of the April general election.  ... more

Most Read

  1. Europe pushes back against US sanctions on Russia
    19 hours ago
  2. Romanian developers get in the game
    5 days ago
  3. Putin and Trump trying to walk back Syria strike and sanctions tensions
    5 days ago
  4. What’s the cost of US sanctions on Russia?
    6 days ago
  5. Is Armenia facing a colour revolution? Popular protests on the rise in Emerging Europe
    1 day ago
  1. Fears raised of US conditioning F-35s sale on Turkey cancelling S-400 deal with Russia
    27 days ago
  2. Europe pushes back against US sanctions on Russia
    19 hours ago
  3. Romanian developers get in the game
    5 days ago
  4. COMMENT: Whisper it – ‘Erdonomics’ could be driving Turkey to a meltdown
    14 days ago
  5. Putin and Trump trying to walk back Syria strike and sanctions tensions
    5 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss