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. […]

The Budapest Stock Exchange's (BSE) share index, the BUX, ended the week at 47,573.35 points, up 2.12% to 985.96 points compared to last Friday's close, MTI reported this morning along with a brief analysis of the week’s trading. Turnover on the stock market rose from HUF 32.078 billion last week to HUF 37.376 billion, with […]

The Hungarian central bank kicked off a cautious monetary easing cycle while stressing its commitment to combatting inflation, which is the highest in Europe. Analyst expect policy makers to proceed gradually and halt rate cuts if the economic and financial backdrop deteriorates. The National Bank of Hungary cut interest rates this week, becoming the first […]

Although GKI’s economic sentiment index rose in May compared to April, it still did not reach its March level. Business expectations also remained worse than in March, despite an improvement in May. Consumer expectations deteriorated in May compared to April. However, according to the empirical survey conducted by GKI Economic Research Co. with the support […]

The Budapest Stock Exchange (BSE) share index, the BUX, closed Friday at 46,587.39 points, up 1.18% or 543.36 points, MTI reported Sunday morning along with a brief analysis of the weeks trading. The turnover of the stock market fell from HUF 39.022 billion to HUF 32.078 billion in a week, with the leading shares, except […]

A delegation of the European Parliament’s Budgetary Control committee concluded a fact-finding visit in Budapest this week. The members of the European Parliament (MEPs looked into ongoing issues with the protection of the EU budget and met with Hungarian public officials, NGOs and journalists. The group of European Union (EU) lawmakers visiting Budapest expressed concerns […]

Hungary’s gross domestic product (GDP) decreased by 0.9% according to raw data and by 1.1% according to seasonally and calendar adjusted and reconciled data in the 1st quarter of 2023 compared to the corresponding period of the previous year. Compared to the previous quarter, the economic performance diminished by 0.2% according to seasonally and calendar […]

According to raw data the volume of construction output in March 2023 lagged behind the previous year’s level by 9.8%, a higher output during the base period also played a part in this trend, the Central Statistical Office reports. Out of the main groups of construction the construction of buildings decreased by 13.2%, that of […]

The stock index of the Budapest Stock Exchange (BSE) declined on lower trading volumes, closing at 46,044.03 points on Friday, 286.69 points, 0.62% lower than a week earlier, MTI reported Sunday morning along with a brief analysis. The stock market's weekly turnover was HUF 39.02 billion, down from HUF 46.02 billion the previous week, with […]