The economic challenges intensified last year, but Hungary continued to catch up with the EU average, with GDP growth of 4.6%, the Hungarian Central Statistical Office (KSH) said in its publication ‘Hungary 2022’, MTI reports. According to the summary published on the KSH website on Tuesday, geopolitical tensions have worsened energy security, increased inflation and […]

The stock index of the Budapest Stock Exchange (BSE) rose this week, closing at 50,083.93 points on Friday, up 763.23 points or 1.55% from a week earlier, MTI reported this Sunday morning along with a brief analysis of the week’s trading. The weekly turnover of the stock market was HUF 79.06 billion, up from HUF […]

Barnabás Virág, Vice President of the National Bank of Hungary (MNB), spoke about the 4+1 factors determining the inflation process in Hungary in a podcast of the Hungarian Competition and Financial Markets Authority, infostart.hu reports. The world has been going through a serious inflationary wave since 2021, the vice-president of the National Bank of Hungary […]

Electronic payments infrastructure further expanded in 2023 Q1. In addition to the more than 50,000 new accounts, the number of cards in active use also increased. On the acceptance side, the number of acceptance points both in the physical and online space increased by 4-5% in a quarter, the National Bank of Hungary (MNB) reports. […]

The analysis and development of the innovation ecosystem and the development of a competitive and productive business ecosystem are essential for Hungary's successful and sustainable economic catch-up, András Balatoni, Director of the Economic Forecasting and Analysis Directorate of the National Bank of Hungary (MNB), said at the launch of the Growth Report 2023 on Wednesday. […]

The volume of industrial production in Hungary declined in April 2023 by 8.3%, year-on-year, MTI reports quoting data published this Wednesday by the Central Statistical Office. Based on working-day adjusted data production fell by 5.8%. Production dropped in the great majority of the manufacturing subsections, at the same time the production volume increased in the […]

The value of Hungarian exports was 3.4% higher, while that of import 4.0% lower in EUR terms in April 2023 than in the same period of the previous year, MTI reported quoting official figures by the Central Statistical Office. The balance of the Hungarian economy’s external trade in goods improved by EUR 836 million. Compared […]

The stock index of the Budapest Stock Exchange (BSE) rose last week amid falling turnover, closing at 49,320.70 points on Friday, up 3.03% on the week to 1451.09 points, MTI reported this Sunday morning with a brief analysis of the week’s trading. Weekly turnover on the stock market was HUF 67.9 billion, up from HUF […]

Hungary will eventually have to adopt the single European currency, but moving too soon would cost the nation’s economy, the governor of the National Bank of Hungary said. György Matolcsy stressed that the country will be ready for euro adoption by 2030. The National Bank of Hungary has a clear and firm position: Hungary must […]

Consumer prices were 21.5% higher on average in May 2023 than a year earlier, MTI has quoted official figures published by the Central Statistical Office (KSH). In one month, consumer prices decreased by 0.4% on average. The highest price rises were measured for electricity, gas and other fuels as well as food over the last […]

The volume of industrial production dropped in April 2023 by 8.3% year-on-year. Based on working-day adjusted data production declined by 5.8%, MTI quoted figures reported by the Central Statistical Office on Wednesday. Transport and electrical equipment production increased. According to seasonally and working-day adjusted data, industrial output was 2.5% lower than in March 2023. Production […]

In April 2023, the volume of sales in retail trade – along with a significant base effect - decreased by 13.6% according to raw data and by 12.6% when adjusted for calendar effects compared to the same period of the previous years. It is reported to be largest decrease in Europe. Calendar-adjusted sales volumes decreased […]

The stock index of the Budapest Stock Exchange (BSE) rose on rising turnover, closing at 47,869.61 points on Friday, up 296.26 points or 0.62% from a week earlier, MTI reported Sunday morning along with a brief analysis of the week’s trading. Weekly turnover on the stock market was HUF 69.1 billion, up from HUF 37.3 […]

In March 2023, the volume of Hungarian exports grew by 10% and that of imports by 1,6% compared to the same period of the previous year, the Central Statistical Office (KSH) has reported. The surplus of the external trade in goods was EUR 886 million, the balance improved by EUR 1.7 billion year-on-year. Compared to […]

In the 1st quarter of 2023, the volume of investments decreased by 2.8% compared to the same period of the previous year, and increased by 1.0% compared to the previous quarter (seasonally adjusted), the Hungarian Central Statistical Office reported. As noted by MTI, the investment volume has been shaped by a decrease in business activity. […]