MNB: Hungary’s Maastricht debt falls to 76.9% at end-2014
Hungaryʼs gross consolidated general government debt, calculated at nominal value, in line with Maastricht methodology, reached 76.9% of GDP at the end of 2014, down from 77.3% a year earlier, a second reading of data published by the National Bank of Hungary (MNB) today reveals.
Preliminary data published in February showed the debt stood at 77.3% at the end of last year, unchanged from the end of 2013.
Hungaryʼs Constitution requires year-end state debt as a percentage of GDP to decline until a 50% cap is reached.
In nominal terms, gross consolidated general government debt came to HUF 24.525 trillion at the end of 2014.
The net general government financing requirement, which is a good approximation of the general government deficit, was HUF 803 bln or 2.5% of GDP in 2014.
Net lending of households came to 5.9% of GDP and net lending of non-financial companies reached 3.5%. The financial accounts data show the rest of the world had a net financing requirement of 7.2% of GDP.
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