Hungarian central bank rate-setters left the base rate of 13 percent unchanged at a regular policy meeting on Tuesday. At the last policy meeting on Feb. 28, the Monetary Council stuck to the base rate maintained since last September, while keeping the one-day deposit rate at 18 percent.
Minister: Hungary needs 500,000 additional workers
Hungary's labour market is in need of 500,000 additional workers who should preferably be found on the national market before the country turns to guest workers, the economic development minister told a meeting of the National Council for Sustainable Development on Friday.
Finance minister: Investors’ interest in Hungary strong
Investors from all around the world maintain a strong interest in the Hungarian economy, Finance Minister Mihaly Varga said on Friday.
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Factory gate prices up by 29 percent in February
Factory gate prices in Hungary rose by 29.0 percent year-on-year in February, driven by dearer energy and commodities, and the weaker forint, the Central Statistical Office (KSH) said on Friday.
Trade gap widens in January
Hungary had a 413 million euro trade deficit in January, a second reading of data released by the Central Statistical Office (KSH) on Friday shows.
Szijjarto: Hungary’s role in European car industry ‘akin to life insurance policy’
Hungary having become a crucial player in Europe's auto industry is "akin to an economic life insurance policy", Peter Szijjarto, the minister of foreign affairs and trade, told a conference on Thursday.
Central bank sees faster disinflation from second half of 2023
Hungary's central bank has said it expects inflation to fall "moderately" in the coming months, then at a faster pace in the second half of the year.
NBH governor addresses Boao Forum for Asia
Achieving environmental sustainability is the biggest challenge of the 21st century, Gyorgy Matolcsy, governor of the National Bank of Hungary (NBH), told the Boao Forum for Asia conference in China's southern Hainan province on Wednesday, urging a transition from quantitative to qualitative growth in ...
Nagy: Defeating inflation priority, EU cohesion funds expected to arrive by summer
Defeating inflation and staying on track to narrow the wealth gap with other European Union countries are priority tasks this year, Marton Nagy, the minister of economic development, told a conference on Wednesday, adding that Hungary had a good chance of receiving EU monies ...
Gross wages up 16.1 percent in January
In January 2023 full-time employees’ gross average earnings were HUF 528,000 and average net earnings with tax benefits reached HUF 363,900. Average gross earnings grew by 16.1%, and average net earnings were 16.0% higher than a year earlier.
Hungary GDP at 77 percent of EU average
Hungarian GDP is 77 percent of the European Union average, up from 75 percent in 2022, the head of the prime minister's office said on Friday, adding that its performance belied the "crowing of leftist experts and the opinions of the central bank".
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Matolcsy to MPs: Economic policy took ‘wrong turn’ in 2021
Economic policymaking already "took a wrong turn" in 2021, before the war in Ukraine and sanctions of 2022, Gyorgy Matolcsy, the head of Hungary's central bank (NBH) told MPs on Wednesday.
Finance Minister: Hungarian banking system ‘robust, functional’ despite failing intl environment
The Hungarian banking system is stable, and remains robust and functional amid the deteriorating international environment, Finance Minister Mihaly Varga said on Friday.
Hungary GDP at 77 percent of EU average
Hungarian GDP is 77 percent of the European Union average, up from 75 percent in 2022, the head of the prime minister's office said on Friday, adding that its performance belied the "crowing of leftist experts and the opinions of the central bank".
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GDP could be down by 6.4 pc in 2020
The GDP of Hungary could fall by 6.4 percent this year and economic trends could start to change from the second quarter of 2021 with a vaccine against the coronavirus possibly available by that time, Finance Minister Mihaly Varga said at an annual hearing ...
Union rejects 4 percent minimum wage hike
Union association MASZSZ will reject a 4 percent minimum wage hike offered by employers and government representatives for 2020.
Jobless rate 4.5 percent in February
The jobless number in February was 213,000, 46,000 more than in the same month a year earlier, rising 1 percentage point to 4.5 percent, the Central Statistical Office (KSH) said on Tuesday.
