Economy

The unemployment rate of two western Hungarian regions was among the lowest in the European Union in 2021, with youth unemployment among the lowest in three regions, the technology and industry ministry said on Wednesday, citing Eurostat data.

Hungary's government has decided to extend a temporary freeze of mortgage loan interest rates until June 30, 2023, the minister of economic development said on Monday.

Hungary's achievements after 2010 are seen as something of a "model" for successful crisis management, "therefore they pay attention to us", Finance Minister Mihaly Varga said after the plenary session of the World Bank and the IMF's annual meetings in Washington, DC, on Friday.

Hungary's central bank raised the rate for overnight collateralised loans by 950 basis points to 25 percent from 15 percent, effective 8.45am on Friday, the monetary council said in a statement.

Hungarian construction sector output in August was flat in an annual comparison, the Central Statistics Office (KSH) said on Friday.

The International Monetary Fund (IMF) has bumped up its projection for Hungary's economic growth in 2022 to 5.7 percent, among the highest in the region, according to the finance ministry.

Output of Hungary's industrial sector rose by an annual unadjusted 14.4 percent in August, the Central Statistical Office (KSH) said in a second reading of data on Thursday.

The IMF has raised its forecast for Hungarian economic growth this year to 5.7 percent, though it expects growth to slow to 1.8 percent in 2023.

Consumer prices in Hungary rose by an annual 20.1 percent in September, accelerating from a 15.6 percent increase in the previous month, driven by higher food and household energy prices, the Central Statistical Office (KSH) said on Tuesday.

Hungary's construction industry is set to expand by 4.5 percent this year before slowing in 2023 and 2024, the minister of economic development told a conference in Budapest on Tuesday.