Budget deficit reaches HUF 2,604 bn at the end of October
Hungary's budget deficit, excluding local councils, reached 2,604.2 billion forints (EUR 7.2bn) at the end of October, the finance ministry said in a preliminary release of data on Monday.
Economy to contract 6.5 percent in 2020
The European Commission published its autumn economic forecast on Thursday, projecting Hungarian GDP would fall by 6.5 percent this year. The projection is an improvement from a 7.0 percent decline in a forecast published in July.
Retail sales edge down 1.6 percent in September
Retail sales in Hungary fell by an annual 1.6 percent in September as non-food and fuel sales dropped, the Central Statistical Office (KSH) said on Thursday.
Wage growth slows to 9.1 percent
Year-on-year wage growth in Hungary slowed to 9.1 percent in August from 10.8 percent in July, data released by the Central Statistical Office (KSH) on Friday show.
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 ...
Policy-makers keep base rate on hold
The Monetary Council of the National Bank of Hungary (NBH) decided to leave the central bank base rate unchanged, at 0.60 percent, at a monthly policy meeting on Tuesday.
Construction sector contraction slows in August
Output of Hungary's construction sector fell by an annual 13.6 percent in August, an improvement after a 21.0 percent decline in the previous month, data released by the Central Statistical Office (KSH) on Friday show.
Employers’ association rejects municipal council’s new tax proposal to reboot economy
National employer federation MGYOSZ on Tuesday rejected a proposal by the Budapest municipal council to increase the business tax in an effort to help reboot the economy.
The situation in 2020 has been more favourable than in 2008, NBH officials say
National Bank sees no immediate systemic risk to financial system
Financial stress had increased significantly around March with the onset of the coronavirus pandemic, but the level of stress was below that of the financial crisis in 2008 and by now it has subsided back to pre-March levels, officials of the National Bank of ...
Moody’s affirms Hungary Baa3 ratings, changes outlook to positive
Moody's Investors Service affirmed Hungary's Baa3 sovereign ratings and changed the outlook on the ratings to positive from stable at a scheduled review on Friday.
