The must-have newsletter about Hungary

Related Articles

FINANCE MINISTER: SUCCESS OF FX BOND ISSUES SHOWS INVESTORS' TRUST IN ECONOMY

 

Investors have demonstrated trust in the Hungarian economy despite the war in Ukraine, with successful FX bond issues in total value of 3 billion dollars and 750 million euros, the finance minister said on Facebook. The fact that oversubscription was double for the bonds shows that Hungary is capable of independently financing itself from the market, even in an uncertain international environment, Mihály Varga said. The new resources are being used to preserve the country’s stability, for prepayment and to boost reserves, he added. The FX bond issues do not affect the budget deficit, he said. “Since 2010, we have reduced the ratio of public debt held by non-resident investors from 60% to 30% and the FX debt ratio from 50% to under 25%,” he added.