Economy

Hungary's economy is expected to return to growth of around 4 percent next year, Mihaly Varga, the finance minister, said on Saturday.

An online price-monitoring platform launched by the Competition Office (GVH) and the Economic Development Ministry could reduce food prices by 1.5 percentage point and cut headline inflation by around half a percentage point, the ministry said on Friday.

Output of Hungary's construction sector dropped by an annual 12.0 percent in May, falling for the sixth month in a row and at a faster clip, data released by the Central Statistical Office (KSH) on Friday show.

The volume of industrial production declined in May 2023 by 6.9%, year-on-year. Based on working-day adjusted data production fell by 4.6%. Production dropped in the majority of the manufacturing subsections, however, the production volume increased in the largest weight carrying manufacture of transport equipment, ...

Hungary's trade surplus reached 1.089 billion euros in May, widening from 366 million euros in April, the Central Statistical Office (KSH) said in a first reading of data on Monday.

Economic Development Minister Marton Nagy has held talks with China Construction Bank chairman Tian Guoli in Beijing, his ministry said in a statement issued Saturday.

S+P Global Ratings affirmed Hungary's BBB- sovereign rating with a stable outlook at a scheduled review on Friday.

Consumer prices in Hungary rose by an annual 20.1 percent in June, data released by the Central Statistical Office (KSH) on Friday show. The CPI fell for the fifth month in a row after peaking at 25.7 percent in January.

Hungary's parliament approved the government's 2024 budget in a final vote on Friday. It was passed with 121 votes in favour and 44 against. Opposition parties called the budget unviable.

Retail sales in Hungary fell by an annual 12.3 percent in May when adjusted for calendar year effects, the Central Statistical Office (KSH) said on Thursday.