Industrial producer prices were 9.0% higher on average in December 2024 than one year earlier. Domestic output prices were 4.0% and non-domestic output prices 11.5% higher than in December 2023, the Central Statistical Office (KSH) reports. The price rise was primarily caused by the weakening of the forint exchange rate against the euro. Compared to […]

Hungary’s economy is showing tentative signs of recovery after stagnating through much of 2024, weighed down by sluggish demand from key eurozone trading partners. Yet, the broader outlook remains lackluster. Fresh data released by the country’s statistical office this week revealed that gross domestic product (GDP) grew by 0.5% in the fourth quarter compared to […]

At its meeting on January 28, 2025, the Monetary Council of the National Bank of Hungary (MNB) reviewed the latest economic and financial developments and decided not to change the central bank interest rates with effect from January 29, 2025, MNB said in a statement. According to the communiqué, the primary objective of the National […]

A recent report by the McKinsey Global Institute (MGI) highlights a pressing concern: declining fertility rates and aging populations are poised to significantly impede economic growth, particularly in countries like Hungary and various emerging economies. Countries will need to raise fertility rates to avert depopulation—a societal shift without precedent in modern history. Hungary has been […]

In the first month of this year, the slightly negative trend continued: according to the survey conducted by the GKI Economic Research Institute with the support of the EU, the outlook for both the business sector and consumers deteriorated compared to December, although in both cases only within the statistical margin of error. Even so, […]

Hungarian inflation surged in December, with rising fuel and food costs driving consumer prices beyond expectations. The increase presents challenges for monetary policy and has stoked concerns over perceived inflation, as sharp price hikes in key items weigh on household budgets. The Hungarian Central Statistical Office (HCSO) reported a 4.6% annual increase in consumer prices […]

The year 2024 was balanced and successful for Hungary's investment promotion efforts, with partners arriving from 19 countries across three continents, record-breaking number of Hungarian projects, and a significant share of investments in the field of the highest added value activities, Government Commissioner and CEO of the Hungarian Investment Promotion Agency (HIPA), Mr. István Joó […]

The volume of industrial production lagged behind by 4.2% in November 2024, production, based on working-day adjusted data lessened by 2.9%, year-on-year, the Central Statistical Office reports. Production has been attenuated in the great majority of the manufacturing subsections, most of all in the manufacture of transport equipment. According to seasonally and working-day adjusted data, […]

Industrial producer prices were 7.9% higher on average in November 2024 than one year earlier. Domestic output prices were 3.2% and non-domestic output prices 10.2% higher than in November 2023. The price rise was primarily caused by the weakening of the Hungarian currency, the forint against the euro and the world market price of energy […]

The value of export lessened by 3.5%, while that of import surpassed by 2.3% in EUR terms the same period of the previous year’s values in November 2024. The balance of the external trade in goods deteriorated by EUR 716 million, the Central Statistical Office reports. Compared to the previous month, the level of trade […]

Hungary has permanently lost EUR 1 billion (USD 1.03 billion) in European Union funds due to its failure to address corruption, marking an unprecedented move by EU authorities in Brussels. This decision represents the first enforcement of such measures in the bloc’s history. The European Commission announced Wednesday that Hungary had forfeited EUR 1 billion […]

The deficit of the general government sector in the third quarter of 2024 was HUF 621 billion, or 3.0% of GDP. The balance is HUF 133 billion, or 0.9 percentage point more favourable than a year earlier, the Central Statistical Office (KSH) reported this Friday. In the 3rd quarter of 2024 compared to the same […]

According to the empirical survey conducted by GKI Economic Research Co. with the support of the EU, the outlook for the business sector deteriorated further in December, but consumers became slightly more optimistic. GKI’s business climate index has been falling in small steps but essentially flat in the second half of this year, slipping to […]

Hungary’s fiercely anti-immigration government is halving the number of guest worker permits to be issued in 2025. With an aging population and a reliance on labor-heavy industries, experts worry that the country may face a critical labor shortage. "Hungary belongs to Hungarians; it will neither become a guest worker country nor a migrant country," the […]

The surplus of the external trade in goods was EUR 1.0 billion, compared to the previous month, the adjusted volume of export lessened by 1.3%, that of import by 1.4%, the Hungarian Central Statistical Office (KSH) reports. The volume of export lessened by 0.3% and that of import surpassed the same period of the previous […]