2023 deficit revision makes 2024 target ‘challenging’ – Fitch
Hungary's decision to raise its 2023 budget deficit target to 5.2 percent of GDP from 3.9 percent makes reaching next year's 2.9 percent target "more challenging"; at the same time, inflation is expected to fall sharply, Fitch Ratings said on Friday.
Retail sales down 7 percent in August
Retail sales in Hungary fell by an annual 7.0 percent in August, dropping for the ninth month in a row, the Central Statistical Office (KSH) said on Wednesday.
Szijjarto: Hungary economic outlook positive despite poor European environment
Hungary's economic outlook is positive regardless of the poor European environment, the minister of foreign affairs and trade said on Tuesday, hailing the government's strategy to make the country a meeting point for Eastern and Western investors.
Finance Ministry: Government to reduce the budget deficit, public debt this year
Due to the need to increase spending to protect key programmes in the budget amid the current crisis situation, the government has decided to raise the budget deficit target to 5.2 percent of GDP, which is nevertheless 1 percentage point lower than the shortfall ...
Government sector deficit 3.1 percent of GDP in Q2
Hungary's government sector had a 570 billion forint (EUR 1.5bn) deficit in the second quarter, equivalent to 3.1 percent of GDP, according to preliminary data released by the Central Statistical Office (KSH) on Tuesday.
Varga: Hungarian tax system to remain competitive despite global minimum tax
The government aims to preserve the competitiveness of its tax system, notwithstanding implementation of the global minimum tax, Mihaly Varga, the finance minister, told the heads of large Hungarian companies.
Economic development minister: Growth, fiscal balance can be restored simultaneously
Economic growth and the fiscal balance in Hungary can be restored by increasing real wages, which is key to stimulating consumption and speeding up growth, the economic development minister said in Budapest on Monday.
Hungary trade surplus at EUR 559 million in July
Hungary's trade surplus was 559 million euros in July and its trade balance improved by 1.9 billion euros compared with the same month last year, the Central Statistical Office (KSH) said in a second reading of data on Monday.
August jobless rate increases to 4 percent
Hungary's jobless rate stood at 4 percent in August, up from 3.6 percent twelve months earlier, the Central Statistical Office (KSH) said on Friday.
Central bank director: Strong disinflationary trend continues
The strong disinflationary trend continues, with the consumer price index set to fall between 7 and 8 percent by the end of the year, and disinflation will continue in 2024, Andras Balatoni, a central bank director, said on Thursday.
