Hungary's State Debt Hits Record High
- 21 Mar 2013 8:02 AM
Hungary gross state debt rose to an all-time high of Ft 21.6 trillion last month, Ft 200 billion more than in November 2011 – when the previous record was set, according to data from the state debt manager ÁKK. The debt grew by Ft 468 billion in January and by Ft 442 billion last month.
As a percentage of GDP, the state debt rose to 80.5%, still below its record high of 81.8%, reached in 2010.
Foreign-currency denominated debt – which accounts for 42% of all the total – rose by Ft 570 billion in February to Ft 9 trillion, as a result of the $3.25 billion bond issue and the weaker forint.
Source: Hungary Around the Clock
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