Municipalities with fewer than 25,000 residents will be automatically compensated for lost revenues
Government working to keep local councils functioning
Helping Hungary's local councils stay operational is in everyone's interest, Balazs Orban, a state secretary of the Hungarian Prime Minister's Office, wrote in a letter to Gyorgy Gemesi, head of the alliance of local governments MOSZ, on Monday.
Tax cuts to continue in 2021
Families looking to buy homes and small businesses will be among the beneficiaries of the government's tax cuts in the year ahead, finance ministry state secretary Andras Tallai said in an interview in daily Magyar Nemzet's Saturday edition.
Matolcsy: Investment growth, job creation and cheap credit key to recovery
National Bank of Hungary (NBH) governor Gyorgy Matolcsy said investment growth, job creation and cheap credit will be necessary for Hungary's economic recovery from the coronavirus crisis in an interview published in Monday's issue of daily Magyar Nemzet.
Central bank sees GDP shrinking 6.0-6.5 pc this year
The National Bank of Hungary (NBH) expects the economy to contract between 6.0 percent and 6.5 percent this year, forecasts from its latest quarterly Inflation Report released on Tuesday show.
Construction sector output plunges by 16.2 pc yr/yr in Oct
Output of Hungary's construction sector plunged by an annual 16.2 percent in October, after declining by 14.7 percent in the previous month, the Central Statistical Office (KSH) said on Tuesday.
Varga: Hungary debt management stable
The management of Hungary's public debt is stable and based on several pillars, Mihaly Varga, the finance minister, said in a YouTube video on Monday.
Industrial output edges up in October
The output of Hungary's industrial sector was up by an annual 0.6 percent in October, slowing from a 2.2 percent increase in the previous month, the Central Statistical Office (KSH) said.
Retail sales fall 2.4 pc in October
Retail sales in Hungary fell by an annual 2.4 percent in October as vehicle fuel and non-food sales dropped, the Central Statistical Office (KSH) said.
Full year GDP decline expected to be 6 percent
Hungary's economy shrank by 4.6 percent in the third quarter, according to a second reading of data released by the Central Statistical Office (KSH) on Tuesday.
Economy set for capacity boost in Q2 2021
Hungary is expected to see an increase in economic capacity from the second quarter of 2021 after businesses begin running the new technologies and machinery they invested in through the government's investment support scheme, Peter Szijjarto, the foreign affairs and trade minister, said on ...
