Central bank cuts base rate by 75 basis points
Hungarian central bank (NBH) rate-setters cut the base rate by 75 basis points, to 10.00 percent, at a regular policy meeting on Tuesday.
Banks agree to voluntary plan to boost corporate lending
The economy ministry has said domestic banks have agreed on a voluntary scheme to boost lending to companies, using the BUBOR rate as the benchmark for lending rather than the earlier planned Treasury bill yields. The deal aims to reduce borrowing costs with a ...
Finance Minister: Strict fiscal policy needed to push average inflation below 5 percent
The government's strict fiscal policy should be continued to push average annual inflation below 5 percent, the finance minister told a conference on Saturday.
Jobless rate 4.2 percent, employment rate up
Hungary's jobless rate was 4.2 percent in December, level with November, the Central Statistical Office (KSH) said on Friday. The December rate for 15-74-year-olds was higher than 3.8 percent twelve months earlier. Fully 207,300 people were unemployed, 23,800 more than in the same month ...
Finance Minister: Budget deficit below 3 percent likely by 2025
A budget deficit below 3 percent of GDP can be achieved by 2025, halving from last year's 6 percent, Mihaly Varga, the finance minister, said in a radio interview on Thursday.
Gross, net wages up in November
Full-time employees’ average gross earnings were HUF 621,200 and average net earnings with tax benefits reached HUF 427,700 in November 2023. Average gross earnings grew by 14.1%, net earnings increased by 14.0% and real earnings were 5.7% higher than a year earlier. Median gross ...
DK calls for European minimum wage to be adjusted to 60 percent of median wage
If Hungary introduces the European minimum wage, it should be set at either 60 percent of the median wage or 50 percent of the gross average wage, depending on which is the higher amount, the opposition Democratic Coalition (DK) said on Tuesday.
Finance Minister: Budapest mayor’s refusal to pay city’s taxes ‘unprecedented’
Finance Minister Mihaly Varga, in an interview with the online edition of business daily Vilaggazdasag, said it was "unprecedented" that while Budapest residents and businesses meet their tax obligations, the city's mayor "ignores them".
Economy Ministry: Government approves further regulations to protect jobs, economy
In an effort to protect Hungarian families and jobs, the government has decided to set the maximum number of residence permits available for guest workers at 65,000 in 2024, and it has defined 300 professions in which jobs must not be given to guest ...
Varga: Hungary could be among EU countries with highest economic growth in 2024
The latest European Commission growth forecast shows that Hungary could be among EU countries with the highest economic growth in 2024, Finance Minister Mihaly Varga said on Tuesday.
