Coronavirus and public debt

By: Trademagazin editor Date: 2021. 01. 29. 11:20

The GDP data for 2020 have been released, which provides an opportunity to reflect on how last year developed in the light of the numbers, what the strengths are and where the vulnerabilities – Krisán László ‘s business blog wrote.

Krisán László

Recent data show that the performance of the Hungarian economy decreased by about 6.4% in 2020. The budget deficit in the share of GDP increased to 8.6% and the debt ratio to around 81%. This is a large decline, compared to the trends of recent years, as since 2011 we have consistently managed to reduce the ratio of Hungary’s public debt to gross domestic product, which was 66.3% at the end of 2019. (krisanlaszlo.biz)