Gross debt in Hungary
The government gross debt refers to the total of all sums of money that have to be paid to other countries, communities or institutions. On the other hand not included in the gross debt are the demands of a country to foreign ones.The gross debt in Hungary in the period from 1998 to 2021 was between 25.9 billion and 135.9 billion USD. The highest level of the last years at 136 billion US Dollar was reached in 2021. The budget deficit in the same year was 12.3 billion USD.
Based on the number of inhabitants, this is in Hungary a debt of 13,936 USD per person. For comparison: The average debt per person in the same year in the European Union was 33,649 USD.
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Gross debt of the last 23 years in billion USD
Year | Hungary total | Hungary per capita | EU per capita |
---|---|---|---|
1998 | 27.56 bn USD | 2,684 USD | 14,079 USD |
1999 | 29.14 bn USD | 2,846 USD | 14,032 USD |
2000 | 25.87 bn USD | 2,533 USD | 11,232 USD |
2001 | 29.39 bn USD | 2,885 USD | 11,255 USD |
2002 | 38.78 bn USD | 3,817 USD | 12,258 USD |
2003 | 47.90 bn USD | 4,729 USD | 15,286 USD |
2004 | 62.82 bn USD | 6,216 USD | 17,595 USD |
2005 | 67.28 bn USD | 6,669 USD | 18,327 USD |
2006 | 78.22 bn USD | 7,767 USD | 18,877 USD |
2007 | 91.14 bn USD | 9,064 USD | 20,898 USD |
2008 | 107.84 bn USD | 10,742 USD | 24,086 USD |
2009 | 106.74 bn USD | 10,650 USD | 25,361 USD |
2010 | 104.88 bn USD | 10,488 USD | 26,496 USD |
2011 | 101.45 bn USD | 10,174 USD | 29,231 USD |
2012 | 99.61 bn USD | 10,041 USD | 28,174 USD |
2013 | 104.76 bn USD | 10,590 USD | 29,981 USD |
2014 | 105.72 bn USD | 10,715 USD | 30,648 USD |
2015 | 93.01 bn USD | 9,450 USD | 25,920 USD |
2016 | 96.82 bn USD | 9,866 USD | 26,262 USD |
2017 | 103.10 bn USD | 10,534 USD | 27,025 USD |
2018 | 110.27 bn USD | 11,280 USD | 28,454 USD |
2019 | 105.44 bn USD | 10,791 USD | 27,178 USD |
2020 | 120.56 bn USD | 12,365 USD | 30,776 USD |
2021 | 135.87 bn USD | 13,936 USD | 33,649 USD |
Comparison of the gross debt per capita with the European Union in Euro
Budget deficit in Hungary
The budget deficit of a country is the result of all its claims and liabilities. This includes incomes and expenses, repayments and building of new debts in other countries, but also domestic positions of the government, such as social insurances, local authorities and communities. It is the financial balance of the economic accounts. In simple terms: If a country at the end of the year has more money, than at at the beginning, it is a surplus - it is less, it is called deficit.The budget deficit in Hungary in the period between 1998 and 2021 varied between 1.41 bn Euro and 12.35 bn Euro. In 2021 was reached a balance of -12.35 bn Euro.
In ratio to population, this equals a new indebtedness of 1,266 Euro per capita in Hungary only in 2021. For comparison, the average debt per capita in the European Union was in the same year at 1,785 Euro.
Budget deficit of the past 23 years
Year | Hungary total | Hungary per capita | EU per capita |
---|---|---|---|
1998 | -3.78 bn USD | -368 USD | -398 USD |
1999 | -2.65 bn USD | -259 USD | -204 USD |
2000 | -1.41 bn USD | -138 USD | 112 USD |
2001 | -2.16 bn USD | -212 USD | -299 USD |
2002 | -5.98 bn USD | -589 USD | -565 USD |
2003 | -6.09 bn USD | -601 USD | -840 USD |
2004 | -6.60 bn USD | -653 USD | -920 USD |
2005 | -8.81 bn USD | -873 USD | -822 USD |
2006 | -10.69 bn USD | -1,061 USD | -568 USD |
2007 | -7.04 bn USD | -700 USD | -360 USD |
2008 | -6.03 bn USD | -600 USD | -1,085 USD |
2009 | -6.27 bn USD | -625 USD | -2,021 USD |
2010 | -5.86 bn USD | -586 USD | -1,970 USD |
2011 | -7.41 bn USD | -743 USD | -1,462 USD |
2012 | -2.99 bn USD | -302 USD | -1,220 USD |
2013 | -3.53 bn USD | -357 USD | -1,027 USD |
2014 | -3.92 bn USD | -397 USD | -852 USD |
2015 | -2.51 bn USD | -255 USD | -577 USD |
2016 | -2.31 bn USD | -236 USD | -423 USD |
2017 | -3.53 bn USD | -361 USD | -263 USD |
2018 | -3.39 bn USD | -347 USD | -139 USD |
2019 | -3.41 bn USD | -349 USD | -197 USD |
2020 | -12.23 bn USD | -1,254 USD | -2,312 USD |
2021 | -12.35 bn USD | -1,266 USD | -1,785 USD |
(negative numbers = deficit)