Hungary Current Account Swings To Surplus In Q3

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Hungary’s current account logged a larger than expected surplus in the third quarter after a deficit in the previous three months, data from the Magyar Nemzeti Bank showed on Monday.

The current account showed an unadjusted surplus of EUR 0.752 billion versus a EUR 0.698 billion deficit in the second quarter. Economists had expected a surplus of EUR 0.125 billion.

The unadjusted capital account balance was EUR 0.931 billion.

The seasonally adjusted current account surplus was EUR 0.301 billion and the capital account balance was EUR 1.012 billion.

The seasonally adjusted net lending, which is the combined surplus on its current and capital accounts, was EUR 1.491 billion or 4.3 percent of quarterly GDP, the bank said.

The country’s net foreign debt, excluding FDI debt instruments, decreased by EUR 0.8 billion from the previous quarter to EUR 10.2 billion at the end of September. That was equivalent to 7.4 percent of GDP in the last four quarters.


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