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 […]

For the second time in two years, Hungary’s economy has slid into recession, as its gross domestic product (GDP) turned negative for two consecutive quarters. New data shows an unexpectedly sharp economic downturn, with Hungary returning to recessionary territory last seen during the 2022 energy crisis. Hungarian GDP fell by 0.7% in the third quarter […]

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 economy faces a challenging third quarter with zero growth expected and the forint at an 18-month low against the euro. This gloomy outlook could force the central bank to maintain current interest rates for an extended period. Deputy Governor Barnabás Virág of Hungary's central bank signaled a potential pause in interest-rate cuts at a […]

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 […]

The Hungarian forint has dropped to its lowest level in 18 months, driven by escalating tensions in the Middle East and recent rate cuts by the National Bank of Hungary (NBH), prompting investors to pull back. Despite these challenges, the central bank has reassured markets that it will maintain a "disciplined and tight" monetary policy […]

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 […]

After taking only a brief pause, the National Bank of Hungary (NBH) returned to its monetary easing path in September, cutting its key interest rate once again. The bank's latest forward guidance suggests a steady outlook on future rates, further fueling market expectations for another rate cut before the year is out. Hungary's decision to […]

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 […]

Retail sales in Hungary continue to disappoint, offering little cause for optimism. Since April 2024, the sector has been stuck in stagnation, with recent data providing few signs of improvement. Despite some positive indicators, the figures remain well below expectations. According to the latest data from the Hungarian Central Statistical Office, June’s weak performance was […]

Hungary’s central bank has taken a breather after a streak of 15 consecutive rate cuts, opting to leave interest rates unchanged at its latest policy meeting. However, policymakers hinted that the pause may be temporary, with room for further "cautious" rate cuts in the near future. This week, the central bank held the benchmark interest […]