Hungary Industrial Output Up 0.6% YR/YR in October
Industrial output in Hungary edged up by an annual 0.6% in October, the Central Statistical Office (KSH) said.
Adam
Economy
Hungarian Government Extends Aid to Tourism Sector
One of the sectors hit hardest during the coronavirus pandemic will continue to receive aid from the government.
Tállai: Government Putting Its Foot Down Over Local Debt
The government is insistent that local councils will not have the means to hike taxes, a finance ministry official has said.
Hungary Posts EUR 896 M Trade Surplus in October
Hungary posted a trade surplus of 896 million euros in October, up 516 million in the same month a year earlier, the Central Statistical Office (KSH) said on Wednesday.
Budget Deficit HuF 3,298 BN at End-November
Hungary’s cash-flow-based budget deficit, excluding local councils, at the end of November was 3,298.1 billion forints (EUR 9.22bn), while the shortfall in the full year is expected to hit 8-9% of GDP, the finance ministry said in a preliminary data release.
Inflation Rate Falls to 2.7% in November
Hungary’s inflation rate was 2.7% in November, below the National Bank of Hungary’s 3% medium-term target, the Central Statistical Office (KSH) said on Tuesday.
Huawei’s Economic Influence in Hungary Growing
The influence of Huawei Technologies on Hungary’s economy has grown over the past five years, with one-seventh of its European spending taking place in Hungary last year, according to a study by Oxford Economics.
Government Extends Support for Tourism, Catering Companies Till End-January
The government will continue to cover half of wage costs and waive payroll taxes at companies in the hard-hit tourism and catering sectors until the end of January, Finance Minister Mihály Varga said on Facebook.
Construction Industry Presses Government for Supply-Side Support
László Koji, the head of national building industry association EVOSZ, acknowledged that the reduction in the home construction VAT rate to 5% from the start of next year will boost market demand, but he told MTI that supply-side incentives, such as support for investments and training, are also necessary.
Hungary Declie in Tax-to-GDP Ratio Steepest in OECD
Hungary’s tax-to-GDP fell by 1.7 percentage points last year, more than in any other OECD country, Deputy Finance Minister András Tállai told MTI, citing the OECD’s latest Revenue Statistics Report released days earlier.