Economy development minister augurs credit rating agency upgrades ‘soon’
Minister of Economic Development Marton Nagy said Hungary can expect its sovereign rating to be upgraded "within a very short period of time" as a result of favourable economic trends, commenting on a downgrade by S+P Global on Friday.
S+P downgrades Hungary to BBB-
S+P Global Ratings downgraded Hungary's sovereign rating one notch to BBB- from BBB at a scheduled review on Friday.
Jobless rate 3.9 percent in December
Hungary's jobless rate was 3.9 percent in December, up from 3.8 percent in the previous month, the Central Statistical Office (KSH) said on Friday.
Economy development minister: Economy expected to ‘skyrocket’ in 2024
Economic growth may slow to 1.5 percent this year, but Hungary can avoid recession, and GDP might jump as high as 4 percent in 2024, the economy development minister told the weekly Mandiner.
Gross wage up 16.8 percent in November
Gross wages in Hungary increased by an annual 16.8 percent in November, the Central Statistical Office (KSH) said on Wednesday.
Central bank keeps base rate on hold
Hungarian rate-setters decided to keep the base rate on hold at 13 percent at a regular policy meeting on Tuesday, the first such meeting this year.
Nagy: Government determined to bypass recession this year
The Hungarian government is determined to avoid a recession this year, and its goal is to secure growth of 1.5 percent this year following 4.5 percent growth in 2022, notwithstanding the mounting economic challenges, Marton Nagy, the minister of economic development said on Tuesday, ...
Budget deficit reaches HUF 4,753.4 billion at end-2022, ministry confirms
Hungary's cash flow-based budget, excluding local councils, posted a 4,753.4 billion forint (EUR 12.1bn) deficit in 2022, the finance ministry confirmed in a detailed release of data on Monday.
Hungary sovereign rating affirmed by Fitch, outlook changed to negative
Credit rating agency Fitch Ratings has affirmed Hungary's investment grade sovereign rating but has changed the outlook to negative from stable due to the tougher international environment, the finance ministry said on Saturday.
Matolcsy: Sustained easing of inflation would presage interest rate reduction
If inflation starts dropping soon, and sustainably, interest rates can be eased, paving the way for a rapid economic turnaround based on green technologies, Gyorgy Matolcsy, the governor of Hungary's central bank, said on Thursday.