The European Commission will propose prolonging the assessment period of Hungary’s recovery plan, in which the country has requested 7.2 billion euros in funding from the EU’s Recovery and Resilience Facility (RRF) designed to offset the fallout of the coronavirus epidemic, an EC spokesperson said.
If the minimum wage goes up by a fifth, related benefits such as sick pay or and maternity benefits would also increase, a ministry of innovation and technology official has said, adding that the salaries of higher earners would also grow further.
Hungary’s trade volume continued to grow at a rapid pace in May, albeit from a low base, when pandemic shutdowns still impacted a number of sectors, data released by the Central Statistical Office show.
Hungary’s cash flow-based budget deficit, excluding local councils, reached 1,704.5 billion forints (EUR 4.8bn) at the end of June, widening on stimulus measures, the Finance Ministry said in a preliminary release of data on Friday.
The government will invite bids to disburse 200 billion forints (EUR 558.9m) in support of boosting the productivity of micro, small and medium-sized companies outside Budapest, the state secretary for European Union development policy at the human resources ministry said.
Hungary’s Competition Office (GVH) has said the government has expanded its legal powers to probe distortions that are raising prices on the building materials market.
Hungary’s annualised consumer price index rose to 5.3% in June, continuing to spike after reaching 5.1% in both April and May, data released by the Central Statistical Office (KSH) show.
The European Investment Bank (EIB) has signed an agreement with Hungary on a 146 million euro loan to support the country’s procurement of protective equipment in preparation for a potential fourth wave of the coronavirus pandemic, the finance ministry said in a statement.
Hungary’s government has approved seven more measures to accelerate the economic recovery, Minister of Foreign Affairs and Trade Péter Szijjártó said during an official visit to Belgrade.
Industrial output in May increased by an annual 39.1% from a low base, the Central Statistical Office said (KSH) on Wednesday.
