Correction of preliminary general government financial accounts data

Budapest, 22 February 2012 - Certain data on the general government sector, and in particular on central government, published in the press release on preliminary financial accounts data for general government and households on 17 February 2012, have been corrected.

According to corrected data, general government net lending amounted to 4.3 per cent of GDP in 2011, instead of 5.0 per cent as published originally. This correction has been made necessary by the fact that other financial liabilities of central government related to the special VAT refunds in 2011 Q4 were incorrectly calculated. The correction does not affect the amount of general government consolidated gross debt at nominal value.

The updated press release is available at:

http://english.mnb.hu/Statisztika/data-and-information/mnben_statkozlemeny/preliminary-financial-accounts-of-general-government-and-households/mnben_pressrelease_20120217

MAGYAR NEMZETI BANK

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The primary objective of the MNB shall be to achieve and maintain price stability. (...) Without prejudice to its primary objective, the MNB shall support the maintenance of the stability of the system of financial intermediation, the enhancement of its resilience, its sustainable contribution to economic growth; furthermore, the MNB shall support the government’s economic policy and its policy related to environmental sustainability, using instruments at its disposal.