During the second quarter of the year outstanding auction demand and significant decrease of yields characterised the government securities market. As a result, the fulfilment of the 2026 Financing Plan of the Government Debt Management Agency Pte. Ltd. (“ÁKK”) exceeded the prorated until the end of the first half of the year. Supporting market sentiment and strong investor demand enabled ÁKK to finance the government debt and build up additional liquid reserves with yield levels lower than typical levels in the previous periods. The financial conditions for the operation of the state are ensured, financing of the public debt is stable. The prorated fulfilment ratio of the HUF 5,445 billion net financing need reached 108% for the first half of the year. During the first six months of the year, 124% of the amount planned for the same period was completed in case of retail government securities. Completion rate was 159% in case of HUF institutional financing and 60% in case of FX institutional financing. The structure of the financing is balanced, reserves are at an optimal level. As a clear signal of market trust, all three major rating agencies kept Hungary in the investment grade category.
