Hungary Public Debt Falls To 79%/GDP At End-2013
- 18 Feb 2014 8:00 AM
Hungary’s public debt eased to 79% of economic output at the end of last year from 80.2% at the end of September, the National Bank of Hungary said in a preliminary report. In nominal terms, the debt reached 23,068 billion forints at the end of 2013.
The appreciation of the forint reduced the debt by 38 billion, while net borrowing raised it by 17 billion.
Hungary’s economy does not suffer from balance problems that would have justified the recent significant weakening of the forint but the country cannot escape the effects of international markets, Economy Minister Mihály Varga said on Sunday.
Source www.hungarymatters.hu
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