The GDP of Hungary could fall by 6.4% this year and economic trends could start to change from the second quarter of 2021 with a vaccine against the coronavirus possibly available by that time, Finance Minister Mihály Varga said at an annual hearing before a parliamentary committee. The finance ministry is working to restore the […]
Hungary’s budget ran a 985 billion forint (EUR 2.7bn) deficit last year, equivalent to 2.1% of GDP, data compiled by the Central Statistical Office (KSH) in the framework of an excessive deficit procedure show.
Hungary’s budget deficit, excluding local councils, reached 2,270.3 billion forints (EUR 6.2bn) at the end of September, up 9 billion from a month earlier, the Finance Ministry said.
Hungary’s budget deficit, excluding local councils, reached 2,270.3 billion forints (EUR 6.2bn) at the end of September, up 9 billion from a month earlier, the Finance Ministry said. The central budget had a 1,841.8 billion forint deficit and the social insurance funds were 441.8 billion forints in the red, but the separate state funds had […]
The Council of the European Union has approved a 504 million euro credit for Hungary, within the framework of the EU’s SURE programme to protect jobs in countries hit hard by the coronavirus epidemic, the finance ministry has said. The European Commission’s instrument for temporary Support to mitigate Unemployment Risks in an Emergency (SURE) was […]
Klára Dobrev, a Hungarian MEP of the opposition Democratic Coalition, has said the European Parliament may pass legislation to introduce a European minimum wage. Dobrev told a press conference that her employment and social policy guidelines had passed in the EP with an overwhelming majority. These could soon be made into EU directives, she said, […]
Used car sales in Hungary reached 586,489 in Q1-Q3, down 2.1% from the same period a year earlier, used car dealer DasWeltAuto said, citing figures compiled by Datahouse. DasWeltAuto head György Frank said used car sales could catch up to last year’s volume in the fourth quarter. DasWeltAuto’s own car sales climbed 15% to 6,306 […]
Parliament unanimously approved legislation to extend a moratorium on loan repayments, but only for vulnerable borrowers. The legislation extends the loan repayment moratorium by six months to next June. It covers families with children, pensioners, the jobless, fostered workers and companies struggling financially because of the pandemic. The moratorium was one of the first measures […]
Chinese telecommunications giant Huawei is setting up a research and development centre in Budapest, Minister of Foreign Affairs and Trade Péter Szijjártó said. The investment, which will create jobs for at least 100 Hungarian engineers, is Huawei’s third in Hungary, he said. Szijjártó said cooperation between Hungary and China was better than ever. The investment […]
Unions of steelmaker Dunaferr in Dunaújváros, in central Hungary, have staged a demonstration demanding that the company should pay employees’ wages and negotiate a new collective agreement. The company unilaterally terminated the collective agreement on August 14, has not started talks on a new deal with employees, and has delayed payment of last month’s wages. […]
