Economy

Year-on-year wage growth in Hungary slowed to 3.5 percent in June from 8.2 percent in the previous month, falling under the rate of inflation, the Central Statistical Office (KSH) said.

Investment volume in Hungary rose by an annual 10.8 percent in Q2, albeit from a low pandemic base, the Central Statistical Office (KSH) said on Tuesday.

Hungary has worked out "all details" and "all issues" of a long-term gas delivery agreement with Russia that will replace one expiring this year, Minister of Foreign Affairs and Trade Peter Szijjarto said in a video message posted on Facebook on Monday.

Hungary's jobless rate was 3.9 percent in July, down from 4 percent in the previous month, the Central Statistical Office (KSH) said. The rate covering 15-74 year-olds fell by 0.6 of a percentage point from July last year.

Hungary's government is hard at work to help generate the investments needed to achieve its target of an economic growth rate of 5.5 percent by the end of the year, the foreign affairs and trade minister told a conference on Friday.

Hungarian rate-setters raised the central bank's base rate by 30 basis points to 1.50 percent at a scheduled meeting on Tuesday. The Council also decided on 30 basis point base rate hikes at policy meetings in June and July, amid spiking inflation.

Gyorgy Matolcsy, the governor of the National Bank of Hungary, suggested the country's economic development would be better served by an "economic policy centre with a mandate to achieve sustainable convergence" in the government's institutional structure in an op-ed piece published online by daily ...

Hungary's full-year economic growth could be "around 7 percent" in 2021, Marton Nagy, the prime minister's advisor on economic policy, said on public radio on Wednesday, a day after preliminary Q2 GDP data were released.