BUDAPEST: National bank of Hungary stated that Hungary’s general government debt in the line of Maastricht methodology, reached 76.9% of GDP at the end of 2014.
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.
