A hefty spending spree by the government ahead of April’s elections has left a significant hole in Hungary’s budget at a time when the war in Ukraine is putting further pressure on the country’s financials. With the budget deficit reaching nearly 75% of the annual target by the end of March, the new government will […]

The volume of construction output in February 2022 surpassed the previous year’s level by 42.3% in Hungary according to raw data published by the Central Statistical Office this Wednesday. Among the two main groups, output was 56.2% higher in the construction of buildings and rose by 20.0% in civil engineering compared to the February 2021 […]

The Budapest Stock Exchange (BSE) share index, the BUX, closed Friday at 42,191.13 points, down 2,843.66 points or 6.31% from last week's close. Weekly turnover on the stock market fell to HUF 115.15 billion from HUF 121.09 billion the previous week, with all leading shares weakening, the state news agency MTI reported this Sunday morning. […]

Consumer prices were 8.5% higher on average in March 2022 than a year earlier. The last time the inflation was as high was in June 2007. The highest price rise over the last 12 months was measured for food. In one month, consumer prices increased by 1.0% on average, the Central Statistical Office reports. In […]

In February 2022, the volume of industrial production grew by 4.5% year-on-year in Hungary, the country’s Central Statistical Office reports. The working day adjusted index is equal to the non-adjusted one. According to seasonally and working-day adjusted data industrial output was 1.6% higher than in January 2022. The majority of the manufacturing subsections contributed to […]

The stock index of the Budapest Stock Exchange (BSE) rose this week, closing at 45,034.79 points on Friday, up 1,051.41 points or 2.39% from a week ago. Turnover was 121.08 billion forints, up from HUF 92.09 billion the previous week, with the leading shares, with the exception of Richter, gaining, the state news agency MTI […]

According to preliminary data the deficit of the general government sector in 2021 was HUF 3,736 billion, 6.8% of GDP. The balance improved year-on-year by HUF 25 billion, or by 1.0 percentage points as a proportion of GDP. Hungary's Central Statistical Office reported the data to Eurostat, the Statistical Office of the EU, in compliance […]

The Hungarian central bank’s tightening cycle, the most aggressive in the European Union, has led to an increase in loan repayment obligations last seen in the 2008 financial crisis. Once the government’s interest rate stop on retail loans runs out at the end of June, hundreds of thousands of Hungarian families will experience a jump […]

Russia's war against Ukraine, the radically changing political environment and widespread international economic sanctions are forcing the global and Hungarian economy onto an economic path that is highly uncertain, says the latest forecast by Hungary's GKI Economic Research Co. The war launched by Russia against Ukraine and the resulting widespread international economic sanctions are forcing […]

The stock index of the Budapest Stock Exchange (BSE) rose slightly this week, closing at 43,983.38 points on Friday, up 47.82 points or 0.11% from a week ago, the state news agency MTI reported this Sunday. Turnover was HUF 92.09 billion, up from HUF 110.94 billion the previous week, with leading shares performing mixed. In […]

The National Bank of Hungary raised massively the EU’s highest key interest rate as it seeks to tamper runaway inflation and bolster the forint. Analysts expect policy makers to continue raising borrowing costs as the war in Ukraine continues to rattle markets. The Monetary Council of the Hungarian National Bank (NBH) raised the central bank […]

Although he refused to do so last year, Viktor Orbán has now sent a letter to European Commission President Ursula von der Leyen asking for more money for Hungary from the EU's EU's Recovery and Resilience Facility (RRF). In addition to the non-repayable aid, the government would also draw on the loan facility - the […]

The Monetary Council of the National Bank of Hungary (MNB) raised the base rate by 100 basis points to 4.4% this Tuesday, and pushed up the interest rate corridor by a similar amount. MNB says in a statement that its primary objective is to achieve and maintain price stability. Without prejudice to its primary objective, […]

The Budapest Stock Exchange's (BSE) share index, the BUX, closed the three-day trading week at 43,935.56 points, up 2.40% or 1,030.01 points compared to last Friday, the state news agency MTI reported this Sunday morning. The turnover was HUF 110.943 billion, compared to HUF 190.623 billion the previous week. Leading stocks rose, with the exception […]

The Hungarian government on Saturday amended its March 5 decree on the export of "strategically important" agricultural products, adding durum wheat and hulless sunflower seeds to the list of restricted crops and clarifying that cereals can still be freely exported as seeds, the Hungarian Gazette reports. The range of crops concerned has been extended to […]