External Debt in Hungary
Hungary - External DebtThe economic scenario has further darkened at the outset of the second quarter, after the Covid-19 pandemic hit the economy in Q1. In March, industrial production contracted at the fastest rate in over a decade and retail sales growth eased markedly, reflecting the impact of lockdown measures imposed since 11 March. Moreover, both business and consumer sentiment fell to over decade lows in April. In response to the crisis, the government announced additional relief measures in April on top of those previously put forward, including support for prioritized sectors as well as interest-subsidized and guaranteed credit facilities for firms; the response package now totals around 13.6% of GDP. Meanwhile, some restrictions have been eased as of 4 May, barring in hotspot areas: Shops and restaurants are reopening, while some business travel is once again allowed.
Hungary - External Debt Data
|External Debt (% of GDP)||115||106||96.2||83.9||80.2|
5 years of economic forecasts for more than 30 economic indicators.
Hungary External Debt Chart
Source: National Bank of Hungary and FocusEconomics calculations.
|Bond Yield||2.08||0.0 %||Dec 31|
|Exchange Rate||295.1||-0.68 %||Jan 01|
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May 29, 2020
A second GDP release published by Hungary’s Statistical Office on 29 May confirmed that growth, in annual terms, waned to 2.2% in the first quarter from the 4.5 expansion tallied in Q4 2019.
May 26, 2020
On 26 May, the Monetary Council of the Hungarian National Bank (MNB) left the base rate unaltered at 0.90% and held all other existing instruments steady, leaving the overnight deposit rate at minus 0.05%, and the one-week and overnight collateralized lending rates at 1.85%.
May 25, 2020
The GKI economic sentiment index, a composite indicator, rose to minus 28.1 in May from minus 33.1 in April, which had marked the worst reading in over a decade.
May 15, 2020
According to a preliminary reading released by the Hungarian Central Statistics Office (KSH) on 15 May, economic activity lost steam in the first quarter, with GDP increasing 2.2% year-on-year (Q4: +4.5% year-on-year).
Hungary: Second estimate confirms industrial activity decreases at fastest rate in over a decade in March
May 13, 2020
According to a second estimate by the Statistical Institute, industrial production declined a working-day-adjusted 10.0% year-on-year in March (February: +1.5% yoy), matching the first estimate.