CFOs of Central European companies expect an average GDP growth of 0.33% this year compared to 2.3% in 2022, close to the 0.25% expected in 2021 during the coronavirus epidemic, the auditing firm Deloitte said based on a recent survey. According to the statement, more than half of those surveyed in Hungary, 56%, expect the […]
K&H Bank's profit after tax decreased by 10% to HUF 67.6 billion in 2022, Attila Gombás, head of K&H Bank's financial division, said at an online press conference on Monday. He pointed out the decline was mainly due to the fact that their operating costs increased more than revenues, and the impact of special taxes […]
The used car market was buoyant at the beginning of the year; in January, almost 69,000 cars changed hands, 3.7% more than a year earlier, the JóAutók.hu [‘Good Cars’] used car market portal said in its analysis on Monday, citing DataHouse's newly published preliminary data. It expects that in 2023, the number of transactions on […]
41% of medium and large Hungarian companies expect their net sales to increase this year, compared to 61% last year, and 10% of respondents think their sales will decrease, compared to 3% in 2022, according to the latest research by human resources provider Randstad Hungary. Citing the results of their new survey, the company said […]
The main challenge for players in the Hungarian new car market since the end of last year is no longer a shortage of production capacity, but a decline in demand, Peugeot's brand director, Zsófia Bálint told MTI. She recalled that a year ago, sales were still constrained by a shortage of spare parts, and the […]
This week has seen the traditional Busójárás (the March of the Busó), a pagan Hungarian heritage. It is the symbolic ‘burying’ of winter and the welcoming of spring with folk music and dance in the south-central Hungarian town of Mohács near the Serbian border. Going back to medieval roots, the march of people in frightening […]
67-year-old Olympic champion canoe paddler István Vaskuti has officially been named as the new ‘Athlete of the Nation’, according to a government decision published in the official gazette ‘Magyar Közlöny’. The Athlete of the Nation group has 12 members. One of them, Olympic champion wrestler János Varga died this past December and the other members […]
The Budapest Stock Exchange (BSE) share index fell on a downward trend this week, with the BUX closing at 45,626.92 points on Friday, 380.19 points, 0.83% lower than a week earlier, MTI reported along with a brief analysis of the week’s trading. The weekly turnover of the stock market was HUF 35.72 billion, up from […]
In his annual ‘State of the Nation’ address this afternoon, Prime Minister Viktor Orbán discussed a wide range of issues, including his government’s stance on the war in Ukraine, the fight against inflation, and the biggest dangers facing Hungary in the next few years. On questions impacting Hungary’s future the most, PM Orbán said that […]
Last year, 2.8 million guests spent 8.8 million guest nights at Lake Balaton, which means 38% more guests and 27% more guest nights compared to the previous year, the professional director of the Hungarian Tourism Agency (MTÜ), Szabolcs Juhász said at the meeting of the Balaton Development Council on Friday. The Balaton tourism region was […]
At the start of the last census, on October 1, 2022, the population of Hungary was 9 million 604 thousand and there were 4 million 593 thousand dwellings in the country, Marcell Kovács, project manager of the census, said at a press conference in Budapest on Thursday. Marcell Kovács pointed out that in the period […]
Gyermelyi Plc. inaugurated a new mill northwest of Budapest on Friday with an investment of more than HUF 6.5 billion, creating the largest single-site milling enterprise in Hungary. The Hungarian government provided HUF 1.7 billion, that is, over a quarter of the invested amount, in non-refundable state funding. The new mill is capable of grinding […]
Energy services provider and trader Alteo Group achieved a net profit of HUF 12.9 billion in 2022, an increase of 120% compared to 2021, the company said on Friday. Alteo has been successful despite the challenges in the energy market, turning difficulties to its advantage with a strategy based on sustainability and renewable energy, the […]
With new investments worth nearly HUF 70 billion, a logistics and distribution center will be set up by German giant Bosch and the manufacturing capacity of its site in Miskolc, NE Hungary will be extended, the Hungarian Investment Promotion Agency reports. Bosch Group is known for being an exceptionally active investor in Hungary: it pumped […]
Hungary’s economic performance stumbled at the end of last year, confirming analyst views that the economy was in a technical recession from the second half of last year. The government expects the economy to expand in 2023. Hungary’s statistical office reported a contraction for a second consecutive quarter this week. Gross domestic product (GDP) fell […]
