Economy

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 ...

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.

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 ...

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 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".

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 ...

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.

Output of Hungary's construction sector dropped by an annual 12.8 percent in November, albeit from a high base, the Central Statistical Office (KSH) said on Monday.

Annual inflation in Hungary was 5.5 percent in December, while it averaged 17.6 percent in 2023, the Central Statistical Office (KSH) said on Friday. Month on month, inflation fell by 0.3 percent.

Hungarian industrial output in November fell by an annual 5.8 percent, while working day-adjusted output was 5.6 percent lower, the Central Statistical Office (KSH) said in a second estimate on Friday.