In the third quarter of 2024, Hungarian service exports calculated in EUR were 4.2% and their imports 1.9% higher than in the same period of the previous year. The surplus was EUR 3.5 billion, EUR 280 million more than in the third quarter of 2023, higher even than the record in the corresponding period of […]
At its meeting on 19 November 2024, the Monetary Council of the National Bank of Hungary (MNB) reviewed the latest economic and financial developments and decided on leaving unchanged the central bank interest rate at 6.50% with effect from November 20, 2024. According to a statement by the Monetary Council, the primary objective of the […]
There is a high degree of uncertainty in the target markets of the Hungarian economy, and the expected economic policy of the next US President also poses a number of risks for Germany and thus Hungary. Due to the weak economic situation, the German economy is not able to stimulate the Hungarian economy, said András […]
Compared to the previous month, the level of export of goods increased by 15%, and that import grew by 7.8% in Hungary's external trade balance in September 2024, the country's Central Statistical Office (KSH) reports. However, the value of export was 5.0% lower, that of import decreased by 4.0% in EUR terms in September 2024 […]
Domestic small and medium-sized enterprises (SMEs) are expecting rising profits, but are holding back, as their willingness to invest has declined, according to the third quarterly data of the K&H SME Confidence Index, which shows the expectations of domestic micro, small and medium-sized enterprises (SMEs) for the next 12 months. According to a statement sent […]
As expected, the Monetary Council of the National Bank of Hungary (MNB) left its policy rate unchanged at its meeting this Tuesday. In the explanatory statement, the central bank stresses the importance of caution in view of deteriorating external developments. The press statement released after the meeting points out that MNB’s primary objective is to […]
Hungary's external trade balance and its impact on the economy are regularly discussed by analysts, but it is mostly the trade balance in goods that is discussed. However, the other important component of the domestic external trade balance, the external trade balance in services, is also important to address in the shadow of the reindustrialization […]
Hungary's gold reserves have increased from 94.5 tons to a record 110 tons, taking into account long-term national and economic strategic goals, the National Bank of Hungary (MNB) told MTI on Monday. The increase in the gold reserve was justified by the fact that the precious metal has appreciated due to global economic, geopolitical and […]
At its meeting this Tuesday, the Monetary Council of the National Bank of Hungary (MNB) reviewed the latest economic and financial developments and decided to cut the central bank's base rate by 25 basis points to 6.5%, lowering the two edges of the interest rate corridor by the same amount with effect from September 25, […]
The volume of industrial production declined in July 2024 by 1.3%, year-on-year, based on working-day adjusted data production dropped by 6.4%, the Central Statistical Office (KSH) reports. Compared to crude data, the significant difference is due to the fact that there were two more working-days in this month than in July 2023. Out of the […]
Investments are flowing into Hungary, and the country's economy is doing very well in EU comparison, the daily Magyar Nemzet wrote on Friday. According to the article, the state of the Hungarian economy is increasingly being discussed in public debates, and there are many opinions in the public domain, but instead of these, it is […]
Hungary's inflation rate inched up in July, surpassing the top end of the central bank's target range and narrowing the room for the continuation of its more than yearlong monetary-easing cycle. After two months of stagnation in the monthly rate of price increases, the pace of one-month inflation shows the same dynamic as the one […]
Hungary's GDP was boosted the most by the construction sector and real estate transactions, as well as by the balance of product taxes and subsidies, according to a report by the country's Central Statistical Office (KSH). The Central Statistical Office said Hungary's gross domestic product grew by an annual 1.5% in the second quarter of […]
Hungary's government has unveiled what it dubs an "anti-war" action plan. The ambitious strategy, announced on Monday, aims to shore up the country's finances through a series of special taxes on banks, energy companies, and multinational firms. Prime Minister Viktor Orbán's administration is no stranger to unconventional economic measures. Once again, they've turned to their […]
The Budapest Stock Exchange's share index, the BUX, closed the week at an all-time high of 72,094.79 points, up 1715.87 points or 2.44%, MTI reported this Sunday along with a brief analysis of the week's trading. Total weekly turnover rose from HUF 55.49 billion to HUF 72.151 billion, with the leading shares, with the exception […]
