household debts in Hungary

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. 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 2022 was between 25.9 billion and 135.6 billion USD. The hightest level within the past 24 years was reached in 2021. However, the liabilities in 2022 have been only 128 billion USD The budget deficit in the same year was 11.2 billion USD.

Based on the number of inhabitants, this is a debt of 13,212 USD per person. For comparison, the average debt per person in the same year in the European Union was 31,253 USD.

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Gross debt of the last 24 years in billion USD

YearHungary totalHungary per capitaEU per capita
199827.56 bn USD2,684 USD14,079 USD
199929.14 bn USD2,846 USD14,032 USD
200025.87 bn USD2,533 USD11,241 USD
200129.39 bn USD2,885 USD11,263 USD
200238.78 bn USD3,817 USD12,266 USD
200347.90 bn USD4,729 USD15,295 USD
200462.82 bn USD6,216 USD17,606 USD
200567.28 bn USD6,669 USD18,337 USD
200678.22 bn USD7,767 USD18,887 USD
200791.14 bn USD9,064 USD20,910 USD
2008107.84 bn USD10,742 USD24,100 USD
2009106.74 bn USD10,650 USD25,376 USD
2010104.88 bn USD10,488 USD26,515 USD
2011101.45 bn USD10,174 USD29,254 USD
201299.61 bn USD10,041 USD28,198 USD
2013104.76 bn USD10,590 USD30,008 USD
2014105.72 bn USD10,715 USD30,677 USD
201593.01 bn USD9,450 USD25,944 USD
201696.82 bn USD9,866 USD26,287 USD
2017103.10 bn USD10,534 USD27,108 USD
2018110.27 bn USD11,280 USD28,543 USD
2019105.49 bn USD10,797 USD27,264 USD
2020120.47 bn USD12,355 USD30,919 USD
2021135.57 bn USD13,962 USD33,827 USD
2022128.28 bn USD13,212 USD31,253 USD

Comparison of gross debt per capita with the European Union in U.S. dollars

      Hungary       European Union

Budget deficit in Hungary

household debts in HungaryThe 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 insurance, 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. If it is less, it is called a deficit.

The budget deficit in Hungary in the period between 1998 and 2022 varied between 1.41 billion euros and 13.03 billion euros. In 2022, Hungary reached a balance of -11 billion euros.

In ratio to population, this equals a new indebtedness of 1,153 euros per capita in Hungary in 2022. For comparison, the average debt per capita in the European Union in the same year was 1,254 euros.

Budget deficit of the past 24 years

YearHungary totalHungary per capitaEU 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 USD112 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-1,463 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-851 USD
2015-2.51 bn USD-255 USD-574 USD
2016-2.31 bn USD-236 USD-421 USD
2017-3.53 bn USD-361 USD-263 USD
2018-3.30 bn USD-338 USD-134 USD
2019-3.36 bn USD-344 USD-191 USD
2020-11.85 bn USD-1,215 USD-2,317 USD
2021-13.03 bn USD-1,342 USD-1,852 USD
2022-11.19 bn USD-1,153 USD-1,254 USD

(negative numbers = deficit)
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