This Tuesday, the National Bank of Hungary (MNB) raised its base rate by one percentage point, bringing the base rate, which is again the benchmark rate, from 9.75% to 10.75%. The last time the interest rate was this high was in late 2008, during the height of the global financial crisis, when it was cut […]

GKI’s economic sentiment index fell in July to its more than one-year low, the lowest since March last year. According to the empirical survey conducted by GKI Economics Research Co. with the support of the EU, business expectations fell by around eight points since April this year, while consumer expectations dropped by more than 20 […]

The Budapest Stock Exchange (BSE) share index closed the week at 42,327.67 points, up 6.73% or 2,668.44 points compared to last Friday. Total turnover rose from HUF 40.24 billion to HUF 63.92 billion, with the leading shares, with the exception of Mol, gaining, the state nedws agency MTI reported Sunday morning. The BUX closed the […]

Hungary’s Foreign Minister Péter Szijjártó travelled to Moscow to negotiate more gas imports from Russia as Hungary braces for a tumultuous winter heating season. Hungary has been a vocal critic on the European Union’s embargo on Russian energy sources, saying a swift decoupling from Russian energy would undermine the country’s economy. Hungary’s foreign minister arrived […]

The Budapest Stock Exchange (BSE) share index fell on a downward trend this week, with the BUX closing at 39,659.23 points on Friday, down 187.41 points or 0.47% on the previous week. Turnover fell from HUF 46.99 billion the previous week to HUF 40.24 billion, with leading shares performing mixed, the state news agency MTI […]

The Hungarian government declared an “energy emergency,” citing the war in Ukraine and sanctions on Russia by the European Union as the primary reasons. Under the new system, there will be a ban on the export of fossil fuels and the system of government-imposed cap on household utility prices will be revamped. The government of […]

In May 2022, the volume of industrial production grew by 9.4% year-on-year. Based on working-day adjusted data production rose by 3.4%, the Hungarian Central Statistical Office reports. Compared to crude data, the significant difference is due to the fact that there were two more working days in May 2022 than in the same month of […]

Financing difficulties in the construction sector are compounded by late payments from long chains of subcontractors, especially to the micro and SME sector. In addition, only a fraction of these companies are creditworthy, which is why it is particularly important for them to obtain advances from customers, the National Federation of Hungarian Building Contractors (ÉVOSZ) […]

Hungary's inflation would have been much worse than now, the highest in the EU, without state intervention, the Hungarian economic research company GKI reported. In May, Hungarian inflation was the ninth highest in the EU at 10.8%, and while all EU countries have yet to release their June figures, it is already known that Hungarian […]

The Budapest Stock Exchange (BSE) stock index rose on rising turnover this week, with the BUX closing at 39,846.64 points on Friday, up 1.31% or 515.31 points from the previous week's close, the state news agency MTI. Turnover rose to HUF 46.99 billion, up from HUF 41.02 billion the previous week, with leading shares rising. […]

The Hungarian forint has been one of the weakest performing currencies worldwide amid an international selloff. Despite government reassurances that the fundamentals of the Hungarian economy are strong and sound, the forint remain under massive pressure. Diplomacy&Trade takes a look at the specific reasons behind the forint’s underperformance and how the currency’s weakness threatens the […]

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 […]