Hungary state debt ratio reaches 77.5 percent at end-Q2

Hungary's state debt relative to GDP reached 77.5 percent at the end of the second quarter, preliminary data released by the National Bank of Hungary (NBH) on Thursday show.

The ratio edged up from 77.4 percent at the end of Q1 and rose from 76.3 percent twelve months earlier.

Hungary’s constitution stipulates that year-end state debt relative to GDP must decline until the ratio reaches 50 percent.

In absolute terms, Hungary’s state debt stood at 46,264 billion forints at the end of Q2, 1,933 billion forints higher than at the end of Q1.

The NBH data show the general government’s net financing requirement – a good approximation for the general government deficit – reached 333 billion forints in Q2, equivalent to 2.1 percent of quarterly GDP.

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