“Pensions to Rise 5% Because of Higher-Than-Expected Inflation”
Pensions will rise by 5 % next year, thus avoiding a retroactive change to match higher-than-expected inflation, the minister for families said on public radio on Sunday.
Adam
Economy
Government to Postpone Projects, Increase Reserves
The government has decided to postpone some development projects and increase the central budget’s 2021 reserves by a total 350 billion forints (EUR 958m), the finance ministry has said.
“State Top-Up Cap for Baby Bonds to Double Next Year”
The state top-up cap for baby bonds, a high-yield security available to Hungarian new-borns, will double to 12,000 forints (EUR 32) as of January next year, Katalin Novák, the family affairs minister said.
October Trade Deficit 335 M Euros
Hungary posted a trade deficit of 335 million euros in October, according to a first reading of data released by the Central Statistical Office (KSH) on Thursday.
Finance Minister Expects 6.0-6.5 PC 2021 GDP Growth
Finance Minister Mihály Varga has said Hungary’s economy was expected to grow by 6.0-6.5% this year. Early in November, the Finance Ministry lowered its projection for GDP growth this year to 6.8%. Hungarian growth slowed to an annual 6.1% in the third quarter. In the Q1-Q3 period, growth was 7.1%.
Hungary Budget Deficit HuF 3,931 BN in November
Hungary’s cash-flow-based budget deficit, excluding local councils, was 3,931.3 billion forints (EUR 10.7bn) at the end of November, the finance ministry said in a preliminary release on Wednesday.
Hungary November Inflation 7.4%
Consumer prices in Hungary grew by an annual 7.4% in November, after hitting 6.5% in October, the Central Statistical Office (KSH) said on Wednesday.
Varga Unveils HuF 230 BN for Poor Localities
The government is making 230 billion forints (EUR 627m) of European Union and state funding available for projects in underdeveloped localities, the finance minister said on Wednesday.
Korean Company Creating 631 Jobs in Debrecen With State Support
EcoPro BM will set up its first plant in Hungary outside South Korea to produce cathodes for lithium batteries, with an investment of HUF 264 billion creating 631 new jobs in Debrecen, said Péter Szijjártó, Minister of Foreign Affairs and Trade, in Seoul on Wednesday (8th December).
Hungary October Industrial Output Down 3.4%
Industrial output in Hungary dropped by an annual 3.4% in October, according to a first reading of data published by the Central Statistical Office (KSH). Output fell by 2.7%, based on data adjusted for the number of working days. Month on month, it was 0.3% higher, according to seasonally and working day-adjusted data.