Gross state debt improves slightly in Q4 2013

Hungary’s gross state debt, calculated at nominal value according to Maastricht criteria, fell to 79.0% of GDP at the end of last year from 80.2% at the end of September, a preliminary report released by the National Bank of Hungary (MNB) today shows...
EconomyMonday, 13:30, February 17, 2014 Read more

State to assume Budapest’s HUF 100 billion debt

The central government will be taking on some HUF 100.7 billion in debt accumulated by Budapest -- nearly the entirety of the city’s HUF 107 billion-plus outstanding -- as part of the ongoing assumption of municipality debt...
BudapestMonday, 08:00, January 27, 2014 Read more

MNB: Government debt at 80.2% of GDP

According to figures released by the National Bank of Hungary (MNB) today, the central government’s consolidated gross debt was at 80.2% at the end of third quarter 2013. By comparison, at 2012’s end, the ratio measured 79.8%...
EconomyThursday, 12:30, January 2, 2014 Read more

Report: >25% of Hungarian debt held by European banks

As of July 1, some 25.3% of Hungary’s debt was held by 33 banks based outside the country, according to a study compiled by local business news outlet Napi Gazdaság. The leading lender among the group is Belgium-based KBC Bank with €3.3 billion held...
EconomyFriday, 11:30, December 20, 2013 Read more

Eurostat: Hungary debt “unhealthy” but above average

Eurostat, The EU’s official statistical office, today released its statistics on member states’ national debt totals for 2012. While the figures on Hungary’s debt are good news/bad news, the country can take solace in the fact that its debt is well below both the EU28 and Eurozone averages.
EconomyMonday, 15:30, October 21, 2013 Read more

Audit office: 2014 deficit target can be met

The Hungarian Audit Office (ÁSz) today released an opinion which reckons that the central government’s 2014 deficit target can be met if the economy grows by a rate of at least 2% -- though a few macroeconomic hurdles will have to be cleared...
EconomyFriday, 14:00, October 11, 2013 Read more

IMF: Hungary state debt will rise in 2014

The International Monetary Fund (IMF) sees Hungary's gross state debt rising from 79.8% at the end of 2013 to 80% in 2014 before falling to 79.7% in 2015, the lender said in its newly-released biannual Fiscal Monitor...
EconomyFriday, 12:25, October 11, 2013 Read more

Households continue to repay loans in August

Hungarian households borrowed moderately in forints from domestic banks and repaid them far more in forex-denominated loans in August, as they have every month since April, new figures from the National Bank of Hungary (MNB) show...
EconomyTuesday, 14:00, October 1, 2013 Read more

Government retreats from war on public debt

The government takes a firm stand against accruing public debt, at least in theory. In actuality, the Economic Stability Act put in place with the endorsement of Prime Minister Viktor Orbán has proven ineffective on capping spending with more to come in the leadup to 2014 elections...
EconomyFriday, 13:15, September 20, 2013 Read more

Primary aim of reducing deficit is to cut debt, Varga says

The government's primary aim in reducing the budget deficit was not to free Hungary from the European Union's excessive deficit procedure, but to reduce the country's debt, enabling Hungary to finance itself, National Economy Minister Mihály Varga said.
EconomyThursday, 16:10, May 30, 2013 Read more

Fidesz to propose removing deadline for entering fx exchange-rate limit program

The governing party Fidesz will submit a proposal to parliament on Sunday to remove the deadline for entering the government's exchange-rate limit repayment program for borrowers with loans denominated in foreign currency.
PoliticsMonday, 13:30, May 27, 2013 Read more

Greece’s central bank posts second consecutive quarter of profit

National Bank of Greece reported a profit for the second consecutive quarter, helped by its Turkish subsidiary Finansbank, as well as lower funding costs and provisions for bad debt.
EconomyMonday, 12:45, May 27, 2013 Read more

Poland’s debt at PLN 826 bln in March

As at the end of March 2013, Poland’s total debt was 1.3% higher than in the previous month and stood at PLN 825.79 billion (€197.7 billion or $253.5 billion).
EconomyWednesday, 12:35, May 22, 2013 Read more

PSzÁF head says government's exchange-rate limit should be permanent

The government is continually examining every viable means of reducing the exposure of Hungary's population to foreign currency debt, but it is not planning to take any permanent measures, the National Economy Ministry told MTI.
EconomyMonday, 17:30, May 13, 2013 Read more

Gov’t raises interest subsidy for SME credit linked to EU-supported investments

The government has raised the interest subsidy on Széchenyi Investment Credit, a co-financing or pre-financing loan for SMEs who have won European Union investment grants, from 2% to 5% from May 1.
EconomyMonday, 14:35, May 13, 2013 Read more

More than 150,000 debtors avail exchange-rate limit through March

More than 150,000 borrowers with loans denominated in foreign currencies entered the government's temporary exchange-rate limit program through the end of March.
EconomyFriday, 10:40, May 10, 2013 Read more

Macedonia borrows $180 mln to cover budget gap

The Macedonian government on Wednesday started to borrow €138.4 million ($180 million) from domestic banks and funds to cover its budget deficit.
EconomyThursday, 09:35, May 9, 2013 Read more

Fewer households plan to borrow

Hungarian households' plans to make big purchases were unchanged in the first quarter compared to three months earlier, but fewer intend to take out personal loans to finance purchases.
EconomyWednesday, 12:00, May 8, 2013 Read more

Troubled foreign currency borrowers could be moved to state-owned homes

State-owned homes or properties that can be converted into homes have been surveyed in recent weeks to see which buildings could be transferred to the National Asset Manager (NET), which provides assistance to troubled foreign-currency borrowers.
EconomyTuesday, 14:35, May 7, 2013 Read more

MNB seeks partners among banks to reduce external debt

EconomyWednesday, 17:35, April 24, 2013 Read more

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