In May this year, the volume of industrial production in Hungary grew by 9.4% year-on-year, according to data published by the country’s Central Statistical Office. Based on working-day adjusted data, production rose by 3.4%. As for the significant difference, the Office points out that it is due to the fact that there were two more […]

The common European currency, the Euro crossed the HUF 409 mark on Tuesday afternoon, setting a new record. At the same time, the Euro also reached a new low against the US currency, which was at HUF 398 forints to the dollar at one point, the popular news site telex.hu reports. On June 13, the […]

The Budapest Stock Exchange (BSE) share index (BUX) fell on rising turnover this week, closing at 39,331.33 points on Friday, down 0.21% (81.41 points) on the previous week, the state news agency MTI reported Sunday morning. Turnover rose from HUF 38.25 billion the previous week to HUF 41.03 billion, with the leading shares weakening, with […]

The National Bank of Hungary delivered the biggest rate cut since 2008, surprising the markets with the size of the move. The monetary decision came after the forint weakened to levels never seen before. The Hungarian central bank raised the base interest rate by 185 basis points to 7.75% this week and policy makers aligned […]

The Hungarian Economic Research Co. GKI has revised its growth forecast for 2022, it raised its GDP forecast to 3.5-4% from the previous 2.5-3%y, and lowered its GDP forecast for 2023 to between 2.5-3% from 3.5-4%. The change is a consequence of faster-than-expected growth in the first quarter and stronger-than-expected austerity measures and inflation rate, […]

The Hungarian currency, the Forint (HUF) fell to a historic low against the euro again on Monday: after 10 a.m., it suddenly started to weaken sharply from the morning level of around HUF 400, and shortly after a quarter to 11, it was HUF 403.85 to the euro. Minutes later, however, it crossed the HUF […]

After May, GKI’s economic sentiment index fell by five points in June as well to its 15-month low. According to the empirical survey conducted by GKI Economics Research Co. with the support of the EU, business expectations fell again by three points in June, while consumer expectations dropped again by around 10 points compared to […]

The BUX, the stock index of the Budapest Stock Exchange (BSE) rose on a downward trend this week, closing at 39,412.74 points on Friday, up 112.99 points or 0.29% on the previous week, the state news agency MTI reported on Sunday morning. Turnover fell from HUF 67.1 billion the previous week to HUF 38.25 billion, […]

"It's time to say that a strong forint, not a weak one, is in the national interest", writes investment expert Viktor Zsiday in a post published this week, commenting on the weakening of the Hungarian currency HUF) in recent weeks. He is quoted by the business news site napi.hu as saying that it should be […]

Hungary’s finance minister vetoed an EU directive on a global minimum corporate tax, leaving the outgoing French EU Presidency without its crown achievement. The move is seen as yet another front in Hungary’s standoff with the bloc. Hungarian Finance Minister Mihály Varga blocked a European Union initiative to implement a global minimum corporate tax rate […]

BUX, the stock index of the Budapest Stock Exchange (BSE) rose on rising turnover this week, closing at 39,299.75 points on Friday, up 0.90 on the previous week's close of 349.08 points, the state news agency MTI reported this Sunday morning. Turnover rose from HUF 40.28 billion the previous week to HUF 67.01 billion, with […]

The National Bank of Hungary surprised markets when it unexpectedly raised the key interest rate as monetary policy setters seek to put a floor under the sliding forint. In the face of double-digit inflation and massive wage increases, the central bank has to keep raising borrowing costs to keep Hungarian financial assets competitive. The National […]

Construction output volume in Hungary increased by 3.2% in one year and was down by 5.9% compared to the previous month, according to data published this Wednesdy by the country's Central Statistical Office. The volume of construction output in April 2022 surpassed the previous year’s level by 3.2%, according to raw data. Out of the […]

The Hungarian currency, the forint fell to an all-time low value against the euro as the exchange rate exceeded HUF 400 for one euro. The Hungarian currency also sank to a historic low against the US dollar on Monday. Analysts expect further deterioration in the value of the forint. "On Friday, the euro/forint exchange rate […]

The Budapest Stock Exchange's (BSE) share index, the BUX, closed the week down 5.70% at 38,950.67 points, or 2,353.69 points, compared to last Friday, according to a summary published by the state news agency MTI Sunday morning. There were only four trading days during the week due to Pentecost, but even so, the drop in […]