Households’ money assets increased in 2017

The net financial assets of households grew by 3262 billion forints in the past year, and its value of 39,287 billion HUF slightly exceeded the amount of the annual gross domestic product (GDP), according to the preliminary data published by the National Bank of Hungary (MNB) on Monday. The increase was 9.7 percent higher than in the previous year.

According to the financial accounts data, the gross value of savings rose by 3278 billion forints last year, of which 344 billion forints came from exchange rate gains and other revaluations. Debts grew by only 16 billion forints, of which 73 billion fell for the fourth quarter, so by the end of September, more loans were repaid by households than new loans taken over. (MTI)