Economy

S+P Global Ratings downgraded Hungary's sovereign rating one notch to BBB- from BBB at a scheduled review on Friday.

Hungary's jobless rate was 3.9 percent in December, up from 3.8 percent in the previous month, the Central Statistical Office (KSH) said on Friday.

Economic growth may slow to 1.5 percent this year, but Hungary can avoid recession, and GDP might jump as high as 4 percent in 2024, the economy development minister told the weekly Mandiner.

Gross wages in Hungary increased by an annual 16.8 percent in November, the Central Statistical Office (KSH) said on Wednesday.

Hungarian rate-setters decided to keep the base rate on hold at 13 percent at a regular policy meeting on Tuesday, the first such meeting this year.

The Hungarian government is determined to avoid a recession this year, and its goal is to secure growth of 1.5 percent this year following 4.5 percent growth in 2022, notwithstanding the mounting economic challenges, Marton Nagy, the minister of economic development said on Tuesday, ...

Hungary's cash flow-based budget, excluding local councils, posted a 4,753.4 billion forint (EUR 12.1bn) deficit in 2022, the finance ministry confirmed in a detailed release of data on Monday.

Credit rating agency Fitch Ratings has affirmed Hungary's investment grade sovereign rating but has changed the outlook to negative from stable due to the tougher international environment, the finance ministry said on Saturday.

If inflation starts dropping soon, and sustainably, interest rates can be eased, paving the way for a rapid economic turnaround based on green technologies, Gyorgy Matolcsy, the governor of Hungary's central bank, said on Thursday.

Output of Hungary's construction sector rose by an annual 7.0 percent in November, after falling by 2.5 percent in the previous month, the Central Statistical Office (KSH) said on Monday.