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Govt Working to Reduce Public Debt to 60 pc of GDP by 2022, says Finance Minister

MTI-Hungary Today 2019.12.12.

The government is working to further reduce the public debt, aiming to push it under 60 percent of GDP by the end of 2022, Finance Minister Mihály Varga told a press conference on Thursday.

The debt-to-GDP ratio is expected to fall to 66 percent by the end of this year from 70.2 percent at the end of 2018, he said.

The government also aims to raise the amount of government bonds held by private citizens, Varga said, to 11,000 billion forints (EUR 33.3bn) from the current 7,500 billion forints.

In the featured photo: Finance Minister Mihály Varga. Photo by Noémi Bruzák/MTI