Economy

The average annual premium for compulsory motor third party liability insurance (KGFB) has risen by 10% compared to last autumn.

The National Economy Ministry said in a statement that the Fitch action shows the underlying fundamentals of the Hungarian economy are stable.

The biggest challenge for companies is to find employees with the right skills, while applicants have high salary expectations.

Consumer prices were 3.7% higher on average in November 2024 than a year earlier and 0.5% higher than in the previous month. Motor fuel prices surpassed by 2.4% those in October 2024.

The debt centre ÁKK has achieved its targets for 2024 and is sticking to keeping the foreign currency share below 30% in 2025. Meanwhile, the population is to continue to hold 20-25% of the national debt.

The value of export lessened by 0.8%, that of import surpassed by 0.2% in EUR terms the same period of the previous year’s values in October 2024. The balance of the external trade in goods deteriorated by EUR 127 million. Compared to the previous ...

Hungary is expected to be a second-tier growth driver again from 2025.

The total output of agriculture was above 4.0 thousand billion forints in 2024, being 8.0% lower than in the previous year. The lessening resulted from a combined narrowing of 4.4% in the total volume of production and of 3.8% in the price level.

The volume of industrial production, based on working-day adjusted data, lagged behind in October 2024 by 0.2%, production by 3.1%, year-on-year. According to seasonally and working-day adjusted data, industrial output surpassed by 2.0% the September 2024 level.

The sides discussed the EIB's lending activity in Hungary and the state of the international economy.