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FINMIN: HUNGARY PLANNING FX BOND ISSUES WORTH USD 4 BN NEXT YEAR

 

Hungary has a series of foreign currency bond issues worth 4 billion dollars planned for next year together with refinancing of foreign currency bonds worth 1 billion dollars, Mihály Varga, the finance minister, told a press conference. EU recovery funds are also expected to underpin Hungary’s public financing, Varga added. The minister said that whereas 10 years ago, more than half of Hungary’s debt was FX, today this has been lowered to 25%. Meanwhile, the level of foreign ownership in the country’s businesses has fallen from 75% to 50%, he added. Whereas the amount of state bonds in the hands of Hungarians has fallen somewhat this year, domestic financing of the national debt is still the highest in Europe, at 20%, Varga said.