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Hungary’s Massive FX Debt Sale Signals EU Row May Drag On

D&T
Sep 17, 2021

Hungary raised the equivalent of EUR.4. billion in foreign-currency bonds this week in one of the largest FX debt issuance in the country’s history. The move suggests the government expects the dispute with the European Union over funding to drag on. Hungary sold USD 2.25 billion in 10-year dollar bonds, USD 2 billion in 30-year […]

Construction Output Volume Up on Pandemic 2020

D&T
Sep 15, 2021

The volume of construction output in July 2021 surpassed the level one year earlier by 22.5% according to raw data. However, the figure was down by 0.4% compared to the previous month, the Central Statistical Office reports. In July 2021, compared to the same month of the previous year:Output rose in both main groups of construction: […]

Hungary’s Inflation Accelerates, Peak Expected in Fall

D&T
Sep 10, 2021

Hungary’s headline inflation picked up again in August, exceeding market expectations and bolstering the case for further interest rate increases. Analysts predict that the rate of inflation will remain above 5% in the coming months. After a remarkable slowdown in July, Hungarian inflation picked up at a quick pace in August. Consumer prices jumped an […]

Rising Inflation Figure in Hungary: 4.9%

D&T
Sep 8, 2021

Consumer prices were 4.9% higher on average in August 2021 than a year earlier. Significant price rises were measured over the last 12 months for alcoholic beverages and tobacco as well as motor fuels. In one month, consumer prices were up by 0.2% on average, the Central Statistical Office reports. In 12 months, compared to […]

Hungary’s Central Bank Hikes Rates as Governor Lambastes Economic Policy

D&T
Aug 26, 2021

The National Bank of Hungary delivered its third interest rate hike in as many months as monetary policy makers seek to slow the rate of price increases. Meanwhile central bank Governor György Matolcsy berated the government’s economic policy and called for a turnaround in competitiveness. The Monetary Policy Council of the National Bank of Hungary […]

Economy Rebounds from Last Year's Deep Fall

D&T
Aug 17, 2021

The gross domestic product of Hungary increased by 17.9% according to raw data and by 17.7% according to seasonally and calendar adjusted and reconciled data in the 2nd quarter of 2021 compared to the corresponding period of the previous year. Compared to the previous quarter, the economic performance rose by 2.7% according to seasonally and […]

Hungary Receives Extra Funding in EU Cohesion Policy

D&T
Aug 14, 2021

The European Commission has approved the modification of six Operational Programmes (OP) for the European Regional Development Fund (ERDF) and the European Social Fund (ESF) in Spain, Bulgaria, Italy, Hungary and Germany under REACT-EU for a total of EUR 2.4 billion. As for Hungary, the statement says the Economic Development and Innovation Operational Programme (EDIOP) […]

Increasing Construction Output Volume

D&T
Aug 13, 2021

The volume of construction output in Hungary in June 2021, based on raw data, surpassed the previous year’s level by 27.8%. Output increased in in the construction of buildings by 25.0%, in civil engineering by 32.1% compared to the exceptionally low base of June 2020. Based on seasonally and working day adjusted indices construction output […]

Hungary Budget Deficit Widens as Central Bank Urges Structural Changes

D&T
Aug 13, 2021

Hungary’s budget deficit continued to widen on government stimulus measures, reaching nearly half of the increased annual target by the end of July. Meanwhile, the head of the nation’s central bank warned that a global economic crisis was looming large on the horizon and the government needs to undergo structural changes to respond to the […]

Official Figures Show 4.6% Annual Inflation Rate

D&T
Aug 11, 2021

Consumer prices were 4.6% higher on average in July 2021 than a year earlier, according to the Central Statistical Office. Significant price rises were measured over the last 12 months for alcoholic beverages and tobacco as well as motor fuels. In one month, consumer prices were up by 0.5% on average. In the past 12 months, compared […]

National Bank Raises Prime Interest Rate Again

D&T
Jul 30, 2021

At its meeting on July 27, 2021, the Monetary Council of the National Bank of Hungary (Magyar Nemzeti Bank – MNB) reviewed the latest economic and financial developments and decided to increase the central bank base rate by 30 basis points to 1.20% in effect from the next day. The goal of the measure is […]

Close to 4.7 million People Employed in Hungary

D&T
Jul 28, 2021

In June 2021, the average monthly number of employed persons aged 15–74 in Hungary was 4,692,000, 98,000 more than in the same period of the previous year and 85,000 more than in the previous month. According to data published by the Central Statistical Office, in April–June 2021, the average number of employed persons was 4, […]

Hungarian House Prices Skyrocketed in the Past Decade

D&T
Jul 16, 2021

Housing prices in Hungary have nearly doubled in the past ten years; the extent of price increases was higher only in two other European Union member states in this period. Despite the jump in prices, interest in home purchases remains strong. Average residential real estate prices in Hungary increased by nearly 100% in the last […]

Industrial Production Up in Hungary Year-on-Year

D&T
Jul 14, 2021

In May 2021 the volume of industrial production exceeded by 39.1% the low base level of last year’s May, caused by coronavirus pandemic related restrictions. Based on working-day adjusted data production rose by 40.2%, the Hungarian Central Statistical Office (KSH) reports. All manufacturing subsections contributed to the significant increase. The growth in the manufacture of […]

Inflation Still High in Hungary

D&T
Jul 10, 2021

Consumer prices were 5.3% higher on average in June 2021 than a year earlier. Significant price rises were measured over the last 12 months for alcoholic beverages, tobacco and motor fuels. In one month, consumer prices increased on average by 0.6%. According to data published by the country's Central Statistical Office (KSH), in the past 12 months, […]

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