Hungary High Inflation ‘Temporary’
Hungary’s current high level of inflation is temporary and, as long as the central bank makes full use of the tools at its disposal, consumer prices may return to around 3% next year, the finance minister said.
Adam
Economy
Fitch Affirms Hungary ‘BBB’ Rating; Outlook Stable
Fitch Ratings affirmed Hungary’s ‘BBB’ sovereign rating with a stable outlook at a scheduled review on Friday.
OECD: Hungary Showing Signs of Robust Growth
Robust growth is returning to Hungary, according to a country report released by the OECD. Speaking at an online press conference presenting the Economic Survey of Hungary 2021, Alvaro Pereira, the OECD’s director of country studies, said Hungary was showing signs of strong economic growth despite the economy having taken a hit from the pandemic.
Debrecen Armin Trade’s New Two-Thousand-Square-Metre Hall Has Been Opened
The opening ceremony of the new logistics centre of Armin Trade Kft. was held on 6 July 2021.
Hungary Wages Up 8.2% in May
Average wages in Hungary grew by an annual 8.2% in May, the Central Statistical Office (KSH) said. Average gross wages came to 431,600 forints (EUR 1,204), while net earnings were 287,000. Gross wages not accounting for bonuses came to 402,900 forints, up an annual 7.8%. Gross wages in the private sector grew by 6.7%, while […]
Trade Volume Continues Rapid Recovery in May
Hungary’s exports and imports rose rapidly in May from the same month a year earlier, albeit from a low base, due to the effect of pandemic shutdowns still on a number of sectors, the Central Statistical Office (KSH) confirmed in a second reading of data released on Friday.
LMP Calls on Government to Seek Agreement on Norway Grants
The opposition LMP has called on the government to “reach a consensus on the utilisation of funds from the Norway Grants”.
Pandemic Causes Marked Drop in Tourism-Catering in 2020
The coronavirus pandemic and associated restrictions resulted in a marked drop in nearly all areas of tourism and catering last year, with preliminary estimates showing a 32% fall in revenue by commercial lodgings and catering establishments compared to the previous year, the Central Statistical Office (KSH) said on Tuesday.
Hungary Central Bank Raises Base Rate 30 BPS
Hungarian rate-setters raised the central bank’s base rate by 30 basis points to 1.20% at a scheduled meeting on Tuesday, while they also changed the interest rate corridor. The interest rate corridor is now between minus 0.25% and 2.15%. hungarymatters.hu
Matolcsy: Government’s Economic Recovery Strategy Over-Reliant on ‘Steel and Concrete’
Hungary’s sustainable convergence with more developed economies could be inhibited if the government continues to rely on the construction sector to prop up growth once the economy recovers, György Matolcsy wrote in an article published on Monday.