Economy

Hungary's jobless rate was 3.6 percent in October, edging down from 3.8 percent in the previous month and from 3.9 percent twelve months earlier, the Central Statistical Office (KSH) said on Friday.

Real wages in Hungary fell by an annual 1.9 percent in September, as double-digit nominal wage growth couldn't keep up with a CPI that edged over 20 percent, the Central Statistical Office (KSH) said on Thursday.

The National Bank of Hungary (NBH) said the local banking sector's "significant" capital position and liquidity reserves would remain "robust" even in the case of a crisis more severe than the current forecasts, in a report published on Thursday.

The budget ran a 101.3 billion forint (EUR 248.3m) surplus in October, the finance ministry confirmed in a detailed reading of data released on Wednesday.

Monetary policy must remain stringent until risks decline across the board, and so the 13 percent base rate and the 18 percent overnight rate will remain in place in the longer term, Barnabas Virag, deputy governor of the National Bank of Hungary (NBH), told ...

The OECD raised its forecast for Hungary's GDP growth this year to 6.0 percent in its biannual Economic Outlook published on Tuesday.

Hungarian rate-setters left the base rate on hold at 13 percent at a regular policy meeting on Tuesday.

The International Monetary Fund acknowledged the results of the fiscal discipline exercised by the Hungarian government, in a concluding statement after an official staff visit to the country this month, the finance ministry said on Friday.

Hungary, together with Poland, is among the fastest-growing economies in the European Union despite not yet having received the post-pandemic recovery monies, the finance minister said on Thursday.

Hungary's GDP grew by an annual 4.0 percent in the third quarter, slowing from 6.5 percent in Q2 on a "significant" decline in the agricultural sector, the Central Statistical Office (KSH) said in a first reading of data on Tuesday.