Hungary’s central government debt falls 2% m/m in December 2013.

By bne IntelliNews January 24, 2014

Hungary’s gross central government debt stood at HUF 22tn (EUR 72.5bn) as of end-December 2013, down by 2% on the month, data from the state debt manager AKK showed.

Foreign currency-denominated debt decreased by 3.7% m/m to HUF 8.9tn. This was mainly due to a 5.2% m/m fall in the stock of issued government securities. In particular, the FX bonds issued on the domestic dropped by 36.6% m/m to HUF 432.5bn and securities issued aboard were down by 1.5% m/m to HUF 5.74tn. The stock of loans edged down by 0.3% m/m to HUF 2.74tn.

The forint-denominated debt registered a 0.7% m/m drop to HUF 13tn at end-December. Loans dropped by 6.2% m/m to HUF 603.6bn and the stock of issued government securities saw a 0.4% m/m decline to HUF 12.37tn. Within the later category, the stock of discount T-bills was down by 0.8% m/m, while the stock of bonds and retail securities increased by 0.5% m/m and 3% m/m, respectively.

The FX debt accounted for 40.5% of the total debt as of end-December, which was down by 0.7pps in monthly comparison.

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