KSH: Hungary Trade Volume Contracts in January
Hungary’s trade volume contracted in January after expanding in the previous months, the Central Statistical Office (KSH) confirmed in a second reading data released on Monday.
Adam
Economy
Income Tax Donations to Charities, Churches Up 5% in 2020
Some 2.2 million taxpayers in Hungary opted to donate 1% of their income tax to charities or churches last year, up 5% from 2019.
Hungary Rating Not Updated – Moody’s
Moody’s Investors Service did not update Hungary’s sovereign rating on Friday, although it was scheduled for a review.
Hungary Cannot Reopen Economy Yet
Hungary cannot reopen its economy yet but chances are good that, ahead of most or all European Union countries, life could become free by the summer and “we will have a free summer”, the prime minister said.
NBH: CPI Growth Expected to Be Temporary
Hungary’s inflation rise is expected to be temporary, with annual inflation coming to 3.8-3.9% in 2021, András Balatoni, the director of the central bank, said.
Pandemic to Determine 2021, 2022 Budget
Hungary’s budget for 2021 and 2022 is expected to be determined by coronavirus spending, a government official told the daily Magyar Nemzet.
New employees were hired in Neopac Debrecen thanks to a HUF 4.2 billion expansion
One hundred and eighty jobs were protected by the HUF 4.2 billion expansion of Neopac Hungary Kft. – Minister of Finance Mihály Varga reported on his Facebook page on Wednesday.
NBH Raises 2021 GDP Forecast to 4-6%
The National Bank of Hungary expects Hungary’s GDP to grow by 4-6% this year, forecasts from its latest quarterly Inflation Report show.
Hungary Policymakers Keep Base Rate on Hold
The Monetary Council of the National Bank of Hungary (NBH) decided to leave the central bank base rate unchanged at 0.60% at a monthly policy meeting. The Council also decided to leave the O/N deposit rate at -0.05% and the O/N and one-week collateralised loan rates at 1.85%.
Budget Deficit Close to HuF 540 BN at End-Feb
Hungary’s budget deficit, excluding local councils, reached 539.7 billion forints (EUR 1.5bn) at the end of February, the Finance Ministry confirmed. The ministry attributed the deficit to pandemic spending.