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 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 a debt of 13,993 USD per person. For comparison, the average debt per person in the same year in the European Union was 33,695 USD.

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Gross debt of the last 23 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 USD11,232 USD
200129.39 bn USD2,885 USD11,255 USD
200238.78 bn USD3,817 USD12,258 USD
200347.90 bn USD4,729 USD15,286 USD
200462.82 bn USD6,216 USD17,595 USD
200567.28 bn USD6,669 USD18,327 USD
200678.22 bn USD7,767 USD18,877 USD
200791.14 bn USD9,064 USD20,898 USD
2008107.84 bn USD10,742 USD24,086 USD
2009106.74 bn USD10,650 USD25,361 USD
2010104.88 bn USD10,488 USD26,496 USD
2011101.45 bn USD10,174 USD29,231 USD
201299.61 bn USD10,041 USD28,174 USD
2013104.76 bn USD10,590 USD29,981 USD
2014105.72 bn USD10,715 USD30,648 USD
201593.01 bn USD9,450 USD25,918 USD
201696.82 bn USD9,866 USD26,261 USD
2017103.10 bn USD10,534 USD27,024 USD
2018110.27 bn USD11,280 USD28,448 USD
2019105.44 bn USD10,791 USD27,168 USD
2020120.56 bn USD12,365 USD30,783 USD
2021135.87 bn USD13,993 USD33,695 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 2021 varied between 1.41 billion euros and 12.35 billion euros. In 2021, Hungary reached a balance of -12.35 billion euros.

In ratio to population, this equals a new indebtedness of 1,272 euros per capita in Hungary in 2021. For comparison, the average debt per capita in the European Union in the same year was 1,787 euros.

Budget deficit of the past 23 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-1,462 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-1,272 USD-1,787 USD

(negative numbers = deficit)
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