🇭🇺 Hungary
Public Sector Debt · 2026
Total Debt
85.8%
of GDP
Global Rank
#42
of 192
S&P Rating
BBB
Credit rating
SOE Debt
+12.3%
4 categories
5yr Change
-4pp
improving
Where the Debt Sits
Central Government
Central Government: 73.5%Dev Banks: 9.1%Energy SOEs: 2.2%Infrastructure: 0.9%Public Corps: 0.1%
Who Holds This Debt
Holder Breakdown
Domestic 65%
Foreign 35%
Domestic: 65%Foreign: 35%
Currency Denomination
Local 78%
Foreign 22%
Local currency: 78%Foreign currency: 22%
Full Debt Breakdown
Central Government73.5% of GDP
Central GovernmentEurostat — Government Debt (Maastricht)
73.5%Energy SOEs2.2% of GDP
MVM Group (electricity/energy)MVM Annual Report 2024 / S&P Credit ReportMajor state utility; FFO/debt ~50% in 2023; revenue HUF 4,534B
2.2%Infrastructure SOEs0.9% of GDP
MÁV Group (railways)MÁV Annual Report / KSH dataState subsidies HUF 297B; heavily dependent on budget transfers
0.9%Public Corporations0.1% of GDP
Magyar Posta (postal service)Hungarian budget documents (est.)State postal service; limited external borrowings
0.1%Development Banks9.1% of GDP
Eximbank HungaryEximbank IFRS Consolidated FS 2023Total assets HUF 3,642B; IMF notes classified in general government; loan portfolio ~HUF 2,500B
4.8%MFB (Magyar Fejlesztési Bank)Scope Ratings / MFB Report 2023Total assets HUF 3,535B; CET1 ratio 16.2%; ~10% of GDP in dev bank assets
4.3%Total Corporate Debt67.8% of GDP
Nonfinancial corporate debtBIS/FRED Q3 2025
67.8%Household Debt17.7% of GDP
Household debtBIS/FRED Q3 2025
17.7%Unfunded Pension Liabilities215.0% of GDP
Public pension unfunded entitlements (est.)Eurostat Table 29 (2021)Re-nationalized private pension pillar in 2011. Nearly pure PAYG. Total entitlements ~220% GDP.
215.0%All Layers Total386.3%
Credit Ratings
S&P
BBB
Moody's
Baa2
Fitch
BBB
Data Sources
Eurostat — Government Debt (Maastricht)general_government · Updated semi_annual
Dec 202473.5% GDP
Ranking Neighbors
Compare Hungary with other countries
Enter the Arena