The Hungarian government's net borrowing stood at HUF 137.2bn (EUR 461mn) in Q3 2013 equalling to 1.8% of the quarterly GDP, according to preliminary financial accounts data, published by the central bank. In cumulative terms, net borrowing amounted to HUF 682.6bn, or 2.4% of the GDP in the four quarters to Q3 2013.
The central government had a net financing requirement of HUF 261.8bn in Q3. On the assets side, transactions were worth minus HUF 504.3bn on account of deposits with central bank. The drop in deposits reflected a HUF 642bn decrease in loans on the liabilities side. This was mainly due to the repayment of an IMF loan in Q3 2013. At the same time, there were relatively high positive transaction (HUF 436bn) in government debt securities in the period.
The local governments had a positive balance, as net lending stood at HUF 68.5bn. Similarly, the social security funds had a net lending of HUF 56bn in Q3 2013.
Hungary’s consolidated gross debt at nominal value, or the so-called Maastricht debt, stood at HUF 23,088bn, accounting for 79.7% of the GDP at end-September 2013, down from 81.1% at end-June 2013.
Related Articles
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
Viktor Orban hints at possible EU exit scenario in conversation with hard-right platform
Prime Minister Viktor Orban said Hungary's EU membership remains worthwhile for now, but there could come a time when this changes. "There could theoretically be a point when it's no longer worth ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
24 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago