Hungary is opposing the European Union’s proposal for a gradual ban on Russian oil imports, with Budapest claiming the plan would be equivalent to dropping an A-bomb on the country’s economy. Meanwhile, tensions are on the rise within the bloc as a handful of dissenting member states are holding up action on a new package […]

According to the GKI Economic Research Institute, the population perceived a 22% rise in prices, compared to the official inflation figure of 9.5% in April, which is partly due to statistical reasons, but partly to the observation methodology, the research institute told the state news agency MTI. The researchers stressed that the perception of the […]

By the end of April, 83% of the full-year deficit of HUF 3,152.7 billion planned for the public finances had been reached in Hungary. The value of Hungarian exports was 8.7% and that of Hungarian imports 23% larger in EUR terms in March 2022 than in the same period of the previous year. According to […]

The Budapest Stock Exchange's (BSE) share index, the BUX, closed at 42,108.63 points on Friday, down 3.13% on the previous week's close, or 1,361.21 points, the state news agency MTI reported this Sunday morning. Turnover fell from HUF 71.247 billion the previous week to HUF 64.233 billion, with the leading shares, with the exception of […]

In March 2022, the volume of industrial production grew by 3.6% year-on-year. Based on working-day adjusted data production rose by 4.2%. However, according to seasonally and working-day adjusted data industrial output was 0.1% lower than in February 2022. According to a report published by the Central Statistical Office this Friday, the majority of the manufacturing […]

The war in Ukraine has brought to the forefront one of Europe’s most pressing vulnerabilities: its reliance on Russian energy. Although European leaders have shown great resolve in their initial response to the war in Ukraine, the solution of weaning the continent off Russian energy dependence is not immediately clear or painless. A similarly pressing […]

Industrial producer prices were 25.9% higher on average in Hungary in March 2022 than a year earlier. Domestic output prices were up by 39.4% and non-domestic output prices by 19.0%, the country's Central Statistical Office reports. The rate of increase of prices was influenced principally by rises in base material and energy prices as well […]

The stock index of the Budapest Stock Exchange (BSE) rose this week, closing at 43,469.84 points on Friday, 293.20 points, 0.68% higher than a week ago. Turnover was HUF 71.2 billion, up from HUF 55.71 billion the previous week, with the leading shares, with the exception of Richter, weakening, the state news agency MTI reported […]

Sándor Csányi, chairman of Hungary’s largest commercial bank OTP, warned that the Hungary needs a budget adjustment of up to HUF 1,700 billion. The war in the Ukraine, international energy prices and the outcome of Hungary’s standoff with the European Union will decide the exact extent and nature of the budget adjustment, according to Csányi. […]

At its meeting on Tuesday, the Monetary Council of the National Bank of Hungary (MNB) raised the central bank base rate by 100 basis points to 5.40%, and increased the two sides of the interest rate corridor by the same extent. Previously, the board raised the key interest rate by 100 basis points to 4.40% […]

In April, the economic sentiment index measured by the Budapest-based GKI Economic Research Co. jumped to its level in spring 2019, well before the COVID crisis. This level has only been reached in one month since the crisis, in October 2021. According to the empirical survey conducted by GKI Economic Research Co. with the support […]

BUX index, the stock index of the Budapest Stock Exchange (BSE) rose in the four-day week, closing at 43,176.64 points on Friday, up 177.25 points or 0.41% from a week ago, the state news agency MTI reported this Sunday morning. Turnover for the four-day trading week was HUF 55.71 billion, up from HUF 52.32 billion […]

BUX, the stock index of the Budapest Stock Exchange (BSE) rose in the four-day week, closing at 42,999.39 points on Friday, 808.26 points, 1.92% higher than a week ago, the state news agency MTI reported Sunday morning. Turnover was HUF 52.32 billion, up from HUF 115.15 billion the previous week, with leading shares performing mixed. […]

The amount of cash in circulation in Hungary has hit a record in recent months. The explanation is likely to be the uncertainty caused by the war in Ukraine, but the central bank says there is no reason for Hungary to worry. Never before has so much cash been in the hands of Hungarians as […]

A hefty spending spree by the government ahead of April’s elections has left a significant hole in Hungary’s budget at a time when the war in Ukraine is putting further pressure on the country’s financials. With the budget deficit reaching nearly 75% of the annual target by the end of March, the new government will […]