Hungary’s economic growth is a “shared success” from which everybody, including pensioners, should benefit, Viktor Orbán declared.

The economic cabinet has decided on 750 billion forints (2.044 billion euros) of tax cuts, with payroll taxes to be reduced further, Finance Minister Mihály Varga said on Facebook on Saturday.

Viktor Orbán, re-elected as the leader of governing Fidesz at the party’s 29th congress on Sunday, said that “In the coming months, we will see things that have not been seen before.

Output of Hungary’s construction sector grew by an annual 14.2% in September, quickening from 10.1% in the previous month, the Central Statistical Office (KSH) said on Friday.

Industrial output in Hungary fell by an annual 2.3% in September, and the output of automotive manufacturers, the biggest segment of Hungary’s industrial sector, dropped by an annual 25.9% as the global chip shortage impacted the local automotive industry, a detailed reading of data released by the Central Statistical Office (KSH) on Friday shows.

Trade turnover has doubled between Hungary and Turkic Council states in the past decade and the importance of cooperation is continually increasing, Foreign Minister Péter Szijjártó said on Thursday.

The European Commission has raised its projection for GDP growth in Hungary this year to 7.4%, up from its July projection of 6.3%. The EC projects a 5.4% growth rate for 2022, slowing to 3.2% in 2023 as output returns close to its potential and monetary support is gradually withdrawn.

The government has decided to fix the price of 95 petrol and diesel with at 480 forints from November 15th, Gergely Gulyás, the head of the Prime Minister’s Office, announced at the Government Info on Thursday.

Fully 43% of the webstores operating in Hungary reported a turnover increase during the coronavirus pandemic and just 12% posted a decline, Shoprenter said, based on a survey covering 707 Hungarian webstores.

The opposition Democratic Coalition (DK) has proposed summoning parliament’s budget committee to hear the finance minister concerning the latest inflation figures that were “higher than the worst expectations”.