Industrial producer prices were up by 43.4% on average in August 2022 compared to one year earlier. Domestic output prices were 66.6% and non-domestic output prices 31.6% higher, the Central Statistical Office KSH) reports. The faster rate of increase in domestic output prices was owing to the larger proportion of the energy industry, where a […]

According to preliminary data, the deficit of the general government sector in the 1st half of 2022 was HUF 893 billion, 2.8% of GDP. The balance improved by HUF 627 billion, or by 2.9 percentage points as a proportion of GDP compared to the same period of the previous year. In the 1st half of […]

At its meeting this week, the Monetary Council of the National Bank of Hungary (MNB) reviewed the latest economic and financial developments and decided to raise the central bank base rate with 125 basis points to 13.00% with effect from September 28, 2022. Experts recall that the last time the base rate was this high […]

Business and consumer expectations in Hungary deteriorated for the fourth month in a row in August. In the case of consumer expectations, this continued in September, whereas the business confidence index slightly increased, although it was noticeably below its July level. According to the empirical survey conducted by GKI Economic Research Co. with the support […]

The Budapest Stock Exchange (BSE) share index fell on a downward trend this week, with the BUX index closing at 38,657.41 points on Friday, down 3.49% on the previous week, or 1,399.77 points, the state news agency MTI reported on Sunday morning along with a brief analysis. The weekly turnover on the stock market was […]

Hungary may be the first European Union member state to see its funds frozen by the bloc over corruption concerns and repeated breaches of the rule of law. The government of Prime Minister Viktor Orbán could face the suspension of a third of Hungary’s budgetary funds if the European Commission’s proposal is accepted. The European […]

The stock index of the Budapest Stock Exchange (BSE), the BUX, closed at 40,057.18 points on Friday, down 2.09% at 853.63 points compared to last week, the state news agency MTI reported on Sunday morning along with a brief analysis. The total turnover was HUF 53.809 billion, compared to HUF 33.255 billion the previous week, […]

The digital economy has been a key contributor to the economic development of countries in central and southeastern Europe. As Europe tackles the combined crises triggered by the pandemic and the invasion of Ukraine, digital economy may emerge as the means to mitigate the impacts. The digital economy has historically been a key growth driver […]

The volume of construction output in July 2022 in Hungary surpassed the previous year’s level by 3.0%, according to raw data, the country's Central Statistical Office reports. Out of the main groups of construction, the output at construction of buildings increased by 0.5%, that of civil engineering grew by 7.0%. Based on seasonally and working […]

The Budapest Stock Exchange's (BSE) share index fell this week, with the BUX closing at 40,910.81 points on Friday, down 1,030.46 points, 2.46% lower than the previous week, the Hungarian state news agency MTI reported Sunday morning along with a brief analysis. The weekly turnover on the stock market was HUF 33.26 billion, down from […]

Annual inflation, the average increase in the price of goods and services, was 15.6% in August in Hungary compared to the same month last year, with food prices increased the most (30.9%), according to according to official data The monthly inflation rate in August was 1.8%, the Central Statistical Office reports. The 15.6% annual inflation […]

The value of Hungarian exports was 13% and that of Hungarian imports 23% higher in EUR terms in July 2022 than in the same period of the previous year and the balance of external trade in goods deteriorated by EUR 975 million over this period, the Central Statistical Office reports. Compared to the previous month, […]

The share index of the Budapest Stock Exchange (BSE) fell in rising turnover this week, closing at 41,941.27 points on Friday, down 3.23% on the previous week, or 1,402.11 points, the state news agency MTI reported Sunday morning, along with a short analysis. The weekly turnover of the stock market was HUF 58.03 billion%, down […]

The National Bank of Hungary raised borrowing costs to an 18-year high this week, taking the European Union’s highest interest rate to 11.75%. Policy makers vowed to tighten monetary conditions further, in contrast with other central banks in the region. The Monetary Policy Council of the National Bank of Hungary delivered yet another massive interest […]

Consumption growth was the most significant factor in the second quarter GDP growth figure of 6.5%, which exceeded expectations, with the tourism and logistics sectors leading the expansion. For the third quarter, analysts expect a significant contraction, the business news site napi.hu reports. In the first half of 2022, economic output was 7.3% higher than […]