EU project pre-financing lifts deficit to 69.4%
Hungary’s cash flow-based budget, excluding local councils, was 254.6 billion forints (EUR 72m) in the red at the end of February, the Finance Ministry said in a final reading.
Adam
Economy
Forint Touches Record Low Against Euro, Dollar
The forint has hit record lows against the euro, US dollar and the Swiss franc. The euro was quoted at nearly 357.49 forints on Friday morning after having scraped a record low of 360.10 on Thursday.
PM Announces Measures to Ease Economic Impact of Epidemic
The prime minister announced a number of measures to ease the economic impact of the coronavirus epidemic.
Suzuki Esztergom, Mercedes Kecskemét Plants to Shut Down
Car maker Magyar Suzuki has decided to close down its plant in Esztergom, in northern Hungary, from March 23 to April 3 due to the spread of novel coronavirus, the company said.
Forint Slips Past 345 to the Euro
The forint weakened as far as 345.04 to the euro in the afternoon on Monday, a new historical low.
Epidemic Requires Rewrite of Fiscal, Economic Policy
The new coronavirus epidemic will require a rewrite of fiscal and economic policy, the prime minister said in parliament.
Orbán: ‘No financial restrictions’ to emergency measures
Prime Minister Viktor Orbán, in a regular interview to public Kossuth Radio, said there were “no financial restrictions” to the emergency measures implemented by the government against the new coronavirus outbreak, stressing that human life was the priority.
PM: New virus impact warrants budget rethink
The economic consequences of the Covid-19 epidemic are “incalculable”, and warrant a full review of Hungary’s 2020 budget and the planned budget for 2021, Prime Minister Viktor Orbán said.
Tourism to be Hit Badly by Coronavirus Outbreak
Hungary’s tourism and hospitality sectors are expected to be hit severely by the new coronavirus outbreak, Finance Minister Mihály Varga said.
February Inflation Drops to 4.4%
Annual inflation in Hungary dropped to 4.4% in February from 4.7% in the previous month, the Central Statistical Office (KSH) said.