Economy

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.

Output of Hungary's industrial sector fell by 6.9 percent year-on-year in May, after a 8.3 drop in the previous month, data released by the Central Statistical Office (KSH) on Thursday show.

Despite a difficult economic situation in Europe and in Hungary the government will implement further tax cuts next year under the tax laws adopted by parliament on Tuesday, the finance ministry told MTI.

Hungary's exports totalled over 50 billion euros in the first four months, an all-time record following a 12 percent increase from the record set last year, Foreign Minister Peter Szijjarto said on Tuesday.