Economy

The MKIK is asking its member companies about the minimum wage from 2025. This was one of the promises made by the new head of the chamber, Elek Nagy.

Finance Minister Mihály Varga submitted the budget for 2025 to parliament. ‘It is a budget of new opportunities, new economic policy and peace,’ he said.

Consumer prices were 3.2% higher on average in October 2024 than a year earlier. Over one month, they rose by 0.1% on average, within which motor fuels became 0.8% more expensive.

The finance minister said Hungary's sovereign rating is two notches higher than it was ten years earlier.

Economics Minister Márton Nagy sees the European market for electric cars on the verge of an upswing.

The finance minister said the government's Eastern Opening policy had brought record FDI to the country.

Not since the global economic crisis of 2008 have companies assessed the state of the Hungarian economy so badly.

In September 2024, the volume of retail trade in both raw and calendar-adjusted data was 1.7% higher than in the same month of the previous year.

The volume of industrial production dropped in September 2024 by 7.2% based on working-day adjusted data, production declined by 5.4%, year-on-year. According to seasonally and working-day adjusted data, industrial output was 0.7% lower than in August 2024.

The new housing subsidy and the more favourable interest rate environment are stimulating the property market.