In Hungary arrears of government institutions fall to six-year low at end-2016

Total arrears of budgetary institutions amounted to HUF21.5bn at end-2016, the news portal Napi reported citing Treasury data. Arrears were so low last in Mar 2010 just before the Fidesz party came into power, the portal observed. Arrears declined m/m compared to the HUF81.5bn level at end-November, which should be partly due to the government disbursing HUF45bn for settling debts of the most troubled sector – hospitals. Healthcare institutions still accounted for the larger HUF13.4bn part of the remaining debt and almost all of this amount was owed to supplier companies. The education managing institution Kuno was an exception as its arrears practically doubled m/m in December but were still at a very low level of just HUF460m.

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