Public debt is falling faster than EU average, says government


The rate at which Hungary’s public debt will decline in the coming years will be double the EU average, Finance Minister Mihály Varga said on Friday.

Hungary’s public debt-to-GDP ratio will fall to 63.1% by 2026 from 76.8% at the end of last year, Varga said on Facebook. The EU average is expected to drop to 84.1% in four years from 90.3% in 2021, he said. “Our goal is to make the economy crisis-proof,” he said, adding that the government would continue to improve balance, budget deficit and public debt indicators.

Statistical Office: Hungary posts a trade deficit of 523 million euros in April

Hungary’s trade balance showed a deficit of 523 million euros in April, the Central Statistical Office (KSH) said in a second reading of data released on Friday. In the first reading, published on June 8, KSH had calculated the April deficit at 475 million euros. Hungary, an export-driven economy where trade surpluses are the norm, recorded a trade deficit for the tenth consecutive month.

Exports increased by 12.6% per year to 11.097 billion euros and imports by 22.0% to 11.620 billion.

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Source: MTI


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