Hungary’s gross central government debt stood at HUF 22.84tn (EUR 73.45bn) as of end-January 2014, up by 3.6% on the month, data from the state debt manager AKK showed.
Foreign currency-denominated debt increased by 4.9% m/m to HUF 9.34tn mainly due to a 5% m/m rise in the stock of issued government securities. In particular, the FX bonds issued on the domestic market advanced by 77.1% m/m to HUF 766bn. On the other hand, securities issued aboard edged down by 0.5% m/m to HUF 5.71tn. The stock of loans increased by 4.7% m/m to HUF 2.86tn supported by an increase in both foreign and domestic loans.
The forint-denominated debt registered a 3.2% m/m rise to HUF 13.39tn at end-January. The stock of issued government securities increased by 3.4% m/m to HUF 12.79tn. Within the later category, the stock of discount T-bills jumped 12.5% m/m, the stock of bonds was up by 1.3% m/m and retail securities rose by 3.9% m/m. By contrast, loans edged down by 0.3% m/m to HUF 602bn.
The FX debt accounted for 40.9% of the total debt as of end-January, which was up by 0.4pps in monthly comparison.
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