At the end of May, Hungary's cash-flow based general government deficit reached HUF 3,806.3 billion, 90.2% of the full-year target, a detailed report released by the Finance Ministry on Monday shows. As MTI reports, the central budget deficit reached HUF 3,694.8 billion and the social security funds were HUF 182.4 billion in the red, but […]
Hungary is committed to adopting the euro and has undertaken to meet the Maastricht criteria by 2030, Finance Minister András Kármán said on a social media site on Monday. The minister said he will meet Kyriakos Pierrakakis, President of the Eurogroup, along with Prime Minister Péter Magyar in Budapest on Friday. András Kármán first held […]
Amid rising trading volume, the Budapest Stock Exchange (BSE) stock index, the BUX, rose this week, closing at 137,625.54 points on Friday – up 1.40%, or 1,900.86 points, from the previous week’s closing level. Weekly trading volume on the stock market was HUF 155.1 billion, up from HUF 101.9 billion the previous week; leading stocks […]
According to K&H Bank’s ‘Secure Future’ survey, the proportion of middle-aged people who are most financially vulnerable has fallen to a historic low in Hungary, and Hungarians’ financial resilience has improved significantly over the past year, the bank said in a statement sent to MTI on Sunday. Last year, 42% of the population would have […]
The significant appreciation of the Hungarian currency, the forint by more than 10%, which began after the April parliamentary elections, poses a serious challenge to the Hungarian hotel industry: while the euro was trading above HUF 400 last summer, the exchange rate is now hovering around HUF 350. Executives at both Danubius Hotels and Hunguest […]
Industries based on design are particularly vulnerable to counterfeiting: according to estimates, the fashion and apparel sector suffers annual losses of EUR 12 billion due to counterfeiting, while the handbag and jewelry sectors suffer losses of EUR 2.7 billion. In Hungary alone, counterfeit goods cause more than EUR 160 million in losses in design-based industries, […]
The national heat record in Hungary for June 20 was broken on Saturday at 37.1 degrees Celsius according to preliminary data, the weather service HungaroMet said on its sociuial media page. A temperature of 37.1 degrees Celsius was recorded in Aszód, near Budapest, on Saturday afternoon, the weather service said. They added that this also […]
Low-cost carrier Wizz Air will operate 1,200 flights a day across its entire network in the summer season, the company said in a statement. Wizz Air will add 15 new flights and 19 new aircraft, with capacity rising close to 3m this summer, up 30% from a year earlier. Based on the experience of recent […]
Passenger number at the Hungarian capital's Ferenc Liszt International Airport was at 1,822,483 in May, up by 7.1% compared to the same month a year earlier the facility's operator, Budapest Airport said in a statement this Friday. Most travellers arrived from London, Paris and Milan. The UEFA Champions League final was held in Budapest at […]
PHOENIX Pharma on Friday inaugurated a 6,550sqm logistics center in Győr (NW) Hungary built with investing HUF 8 billion of its own funds, MTI reports. PHOENIX Pharma board chairman Tamás Kaló said the center, established as a greenfield investment, serves the pharmacies, hospitals and the population of Győr-Moson-Sopron, Komárom-Esztergom, Veszprém and Fejér Counties. The base […]
Telecom service providers had revenue of HUF 339 billion in Hungary in the first quarter, with mobile voice and mobile internet services making up 59%, according to a summary published by the Central Statistics Office (KSH). Revenue from mobile voice and mobile internet services came to HUF 201 billion. Fixed internet services generated revenue of […]
This Wednesday, President Donald Trump of the United States and President Masoud Pezeshkian of Iran signed a memorandum of understanding aimed at ending the military conflict between the two countries. The agreement includes the reopening of the Strait of Hormuz, which could also ease the pressure on the global economy. This development is likely to […]
Singapore-based Vulcan Shield, which supplies high-temperature insulation solutions to a range of industries and is building a plant in Békéscsaba (SE Hungary), has started test production with 12 workers at a plant rented from Linamar Hungary, executive manager of the Hungarian unit, Lóránt Komjáti is quoted by MTI as saying. Speaking at a local council […]
According to Greenpeace Hungary, the Hungarian Bioculture Association and the Hungarian Nature Conservation Association, the government must make it clear that Hungary continues to support a GMO-free agriculture sector, the organizations said on Thursday. According to civil society groups, it was an “unexpected shift” that the Tisza MEPs voted in the European Parliament (EP) to […]
The government aims to support companies generating real added value for Europe and Hungary by creating a level playing field, Minister of Economy and Energy István Kapitány said in Gyor, at the launch of the serial production of Audi Hungaria's new MEBeco electric drive, on Thursday. MTI quotes István Kapitány as saying that the government […]
