EBRD: Hungary’s economy likely to shrink slightly this year
The Hungarian economy is likely to shrink by 0.2 percent this year, the European Bank for Reconstruction and Development (EBRD) has forecast.
Central bank keeps base rate on hold
Hungarian rate-setters kept the base rate at 13.0 percent at a regular policy meeting on Tuesday.
Banks to draft lending recovery plan
The Hungarian Banking Association has agreed to draft a package of measures banks can take to support the recovery of the lending market at a meeting with Economic Development Minister Marton Nagy on Monday.
Gross wages up 15.2 percent, real wages drop 2 percent in July
In July 2023 full-time employees’ average gross earnings were HUF 559,100 and average net earnings with tax benefits reached HUF 385,600. Average gross earnings and average net earnings increased by 15.2% and 15.1%, respectively, while real earnings decreased by 2.0%, compared with a year ...
Finance ministry: Budget ensures resources even during wartime
The budget ensures the resources necessary to maintain the regulated utilities price scheme for households, protect the security of the country, and defend family subsidies and pensions, even during wartime, the finance ministry said on Friday.
Finance Minister: Curbing inflation government’s top economic policy goal
Hungary's government, in agreement with the central bank, considers curbing inflation its most important economic policy goal, Finance Minister Mihaly Varga said on Thursday.
Finance Minister: Fiscal policy proposal by Brussels unacceptable to Hungary
Brussels' proposal to determine fiscal policy for European Union member states is unacceptable to the Hungarian government, the finance minister said on Friday on the sidelines of an informal meeting of his EU counterparts in Santiago de Compostela, Spain.
July construction output up 3.4 percent yr/yr
Output of Hungary's construction sector grew by an annual 3.4 percent in July, after contracting for seven months, the Central Statistical Office (KSH) said on Friday.
Transport equipment manufacturing grows 14.4 percent in July
The volume of industrial production declined in July 2023 by 2.6%, year-on-year. Based on working-day adjusted data production fell by 2.5%. Production dropped in the majority of the manufacturing subsections, at the same time production volume grew in the largest weight carrying manufacture of ...
Inflation slows, but still in double digits
Annual inflation in Hungary was 16.4 percent in August, the Central Statistical Office (KSH) said on Friday. Food prices were 19.5 percent higher in August, down from 23.1 percent in the previous month, while household energy prices increased by 34.7 percent. In July, annual ...
