Economy

Hungary's cash flow-based budget posted a 143.6 billion deficit, the Finance Ministry confirmed on Wednesday.

Hungary's state debt relative to GDP reached 72.9 percent at the end of 2022, preliminary data released by the National Bank of Hungary (NBH) on Monday show.

Hungary's GDP grew by an annual 0.4 percent in the fourth quarter, slowing from 4.0 percent in the third quarter on a "significant" decline in the farm sector, the Central Statistical Office (KSH) said in a first reading of data on Tuesday.

The European Commission raised its projection for Hungary's GDP growth this year to 0.6 percent, in its winter forecast released on Monday.

Hungarian industrial output increased by an annual 2.0 percent in December, up from 0.6 percent in November, the Central Statistical Office (KSH) confirmed on Monday in a detailed reading of data.

Output of Hungary's construction sector fell by an annual 3.9 percent in December, after rising by 7.6 percent in the previous month, the Central Statistical Office (KSH) said on Monday.

Inflation is expected to start declining from next month and fall into the single digits by the end of the year, Economic Development Minister Marton Nagy said on Friday.

Consumer prices in Hungary grew by an annual 25.7 percent in January, up from 24.5 percent the previous month, the Central Statistical Office (KSH) said on Friday.

Despite the prolonged war in Ukraine and challenges posed by the European Union's sanctions policy, the Hungarian economy has proved resilient, the finance ministry said in its latest monthly report on Wednesday.

Hungary posted a trade deficit in December of 154 million euros, down from 1.415 billion in November, the Central Statistical Office (KSH) said on Wednesday in a first reading of the data.