The European Investment Bank and the Ministry of Finance of Hungary signed this Thursday in Budapest an EUR 150 million loan for the construction and rehabilitation of eight schools, 16 classroom extensions and 20 new sport halls in schools, as well as the construction of 26 swimming pools and 17 larger gymnasiums in public schools […]

In the third quarter of 2019 the number of payment cards and within this, that of cards facilitating contactless payments continued to grow, according to a report by the National Bank of Hungary. The expansion in the volume of electronic payments primarily continues to be a result of the dynamic growth of the number and […]

Consumer prices were 3.4% higher on average in November 2019 than a year earlier. Significant price rises were measured over the past year for alcoholic beverages and tobacco as well as food, the country's Central Statistical Office reports. Food prices went up by 5.5% (including a 14.8% rise for pork prices), the price of other […]

In October 2019, the volume of industrial output grew by 6.1% year-on-year. Based on working-day adjusted data production rose by 6.4%, according to figures published this Friday by the Hungarian Statistical Office. The report says the majority of manufacturing subsections contributed to the increase. The rate of growth significantly slackened in the largest weight representing […]

Industrial producer prices as a whole were 1.5% higher in October 2019 than in the same period of the previous year, Hungary’s Central Statistical Office reports this Tuesday. The development of prices was influenced by changes in world market prices of raw and base materials and by wage growth. Domestic output prices increased by 1.7% […]

Apart from the 2008 and 2009 crisis years, the volume of bilateral trade between Spain and Hungary has been on the rise since Hungary’s 2004 accession to the European Union and has more than doubled from that date. Even though the bilateral trade and investment figures of recent years are encouraging, there is ample room […]

In the first half of 2019, the annual growth rate of house prices accelerated to some extent at national level, while in Budapest, the annual dynamics slowed down from 24.8% to 22.5%, the National Bank of Hungary (MNB) reports. Although, the currently strong housing market demand is supported both by home starter programs and the […]

Hungary’s consumer price inflation rose an annual 2.9% in October, fueled primarily by an above-average increase in food prices, according to data published by the Central Statistical Office. The annual inflation index was 2.8% in September. Core inflation, which excludes volatile food and energy prices, rose from 3.9% in the previous month to 4% in […]

The National Bank of Hungary (MNB) has published its FinTech strategy entitled ‘Financial innovation and stability’ at a conference held with the participation of the representatives of Hungarian FinTech companies. The key objective of the first central bank FinTech strategy in the region is to facilitate the spread of competitive and innovative services in Hungary, […]

The property market in Budapest has hit the brakes and the 9,941 transactions recorded in the first half of the year represent a significant 46% drop from the same period a year earlier, according to the weekly analysis published by Ingatlan.com. The average price per square meter of used properties in the Hungarian capital was […]

Hungary is the world’s 47th most competitive economy, according to the global competitiveness ranking of 141 countries published by the World Economic Forum (WEF). The country moved on spot higher from last year’s 48th place in the list, which continues to be topped by Singapore, followed the U.S. and Hong Kong, state news agency MTI […]

Hungarian consumer prices were 2.8% higher in September than a year earlier and increased 0.1% from August, state news agency MTI says, citing data published by the Central Statistical Office. The headline inflation figure is the lowest since January 2019, mainly due to a 4.6% decline in fuel prices. Seasonally-adjusted core inflation, which strips out […]

Hungary’s industrial output growth slowed to 2.7% in August from a year earlier, according to data adjusted for calendar effects published by the Central Statistical Office. Under unadjusted data, the rate of expansion was 0.3%. The figure reflects the impact of the economic slowdown in the European Union, Hungary’s main trade partner. In July, the […]

The number of smartphone users in Hungary is 5.3 million, which equals 89% of all internet users in the country. The number of people using a mobile internet connection has increased by 1.7 million to almost 4.5 million between 2017 and May 2019. The major role that smartphones play in our lives is proven by […]

Investments in the Hungarian economy surged by 18.8% in the second quarter of 2019 from a year earlier, driven by the private sector, according to data from the Central Statistical Office. The figure represents a 4.1% increase versus the first quarter. Dynamic growth rates were recorded in 15 out of 19 sectors. A 31% increase […]