Hungary To Use PF Assets To Cut Debt

The government of Hungary will transfer pension fund assets to reduce public debt,Reutersreports. Mandatory private pension funds, which have been effectively renationalized, will provide about $7.2 billion to cut debt, addsEconomic Times.

The public debt is expected to fall by 4% to 77% of GDP after the fund transfer. The government will also take further steps to reduce public debt.

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