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Public Debt Falls Faster Than Projected

HUNGARY
  • Public debt fell faster than projected last year and the deficit target was fulfilled, MTI report citing Finance Minister Varga. Varga said on Facebook that public debt was 73.5% of GDP last year, compared to 76.8% in 2021. The budget deficit was 4.9% of GDP, in line with plans, or 6.1% taking into consideration natural gas reserves.
  • MTI report that pensions were hiked by 15% from Jan 1, raising average pensions by HUF 27,120 (EUR 67) per month, government spokeswoman Szentkiralyi said on Facebook. Average pensions will grow by HUF 352,560 this year, she said.
  • Data released by the statistics office this morning showed that average gross wages increased by 18.4% y/y (Exp. 18.0%) compared to 17.8% prior. The central bank will release minutes of its latest meeting at 1300 GMT/1400 local time.
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