Economy

Swiss businesses are benefitting from Hungary's competitive taxes and escalating growth, while Hungarian companies have a growing presence in Switzerland, Mihaly Varga, the finance minister, said after meeting counterpart Karin Keller-Suttert.

Gyorgy Matolcsy, the governor of the National Bank of Hungary (NBH), took part in the 2024 Tsinghua PBCSF Global Finance Forum, the central bank said on Monday.

Hungary's jobless rate stood at 4.4 percent in April, unchanged from March and climbing from 3.9 percent twelve months earlier, the Central Statistical Office (KSH) said on Friday.

The average gross wage in Hungary rose by an annual 13.9 percent to 658,400 forints (EUR 1,700) in March, the Central Statistical Office (KSH) said on Thursday.

Investment volume in Hungary shrank by an annual 9.6 percent in the first quarter of 2024, the Central Statistical Office (KSH) said on Thursday.

Hungary's cash flow-based budget, excluding local councils, posted a deficit of 2,597.5 billion forints (EUR 6.7bn) at the end of April, the finance ministry confirmed in a detailed release of data on Thursday.

Marton Nagy, the national economy minister, on Tuesday met Radovan Jelasity, chairman of the Hungarian Banking Association, to review macroeconomic and lending trends, his ministry said in a statement.

Hungarian central bank (NBH) rate-setters cut the base rate by 50 basis points to 7.25 percent at a regular policy meeting on Tuesday. The Council also decided to lower the symmetric interest rate corridor in tandem, bringing the O/N deposit rate to 6.25 percent ...

A 150 billion forint (EUR 390m) employment support scheme aimed to help job-seekers over the age of 30 is available from Thursday, the state secretary in charge of employment policy said.

Output of Hungary's construction sector fell by an annual 6.3 percent in March, the Central Statistical Office (KSH) said on Wednesday.