Economy

The finance ministry has lowered its projection for GDP growth this year to 6.8 percent against the backdrop of higher energy prices, inflationary pressure and the impact of the fourth wave of the pandemic, Finance Minister Mihaly Varga said at a conference organised by ...

The number of home building permits issued in Hungary rose by an annual 29.8 percent to 22,430 in the first three quarters even as the number of new projects in the capital declined, data released by the Central Statistical Office (KSH) on Thursday show.

The European Bank for Reconstruction and Development (EBRD) raised its forecast for Hungary's GDP growth this year to 7.7 percent in a biannual report published on Thursday.

Hungary's export growth slowed further in August, giving Hungary a trade deficit of 751 million euros, a second reading of data released by the Central Statistical Office (KSH) on Tuesday shows.

Wage growth in Hungary quickened to an annual 8.9 percent in August from 7.9 percent in the previous month, the Central Statistical Office (KSH) said on Friday.

Hungary's jobless rate was 4 percent in September, unchanged from the previous month, the Central Statistical Office (KSH) said. The rate covers unemployment among people between the ages of 15 and 74.

The Hungarian economy is expected to grow at the third fastest rate in the European Union this year, the International Monetary Fund (IMF) confirmed in its revised regional growth forecast.

Thanks to the high inoculation rate, the fourth wave of the coronavirus pandemic is expected to be relatively weak in Hungary, allowing for an estimated 7 percent GDP growth this year, Finance Minister Mihaly Varga told the Portfolio Economic Forum in Budapest on Tuesday.