By implementing its Green Program, the National Bank of Hungary (MNB) wishes to contribute to reducing risks related to climate change and other environmental issues and to raising the volume of green market financing in Hungary. Following the measures already taken in the banking sector, the Bank says it will start introducing green finances in […]

In May 2020, the volume of exports was down by 26% and that of imports by 19% compared to the same period of the previous year. The surplus was EUR 102 million. The surplus figure of EUR 102 million means the balance deteriorated by EUR 545 million compared to May 2019. According to calendar-adjusted data by the Central Statistical Office, the […]

A series of investments of more than HUF 20 billion will be launched at the southern Hungarian sand dune region, Homokhátság, where irrigation and infrastructure development will also take place. As the Minister of Agriculture announced at the Szeged wholesale market, irrigation will be developed on 1,500 hectares in an environmentally friendly way, it will […]

The Electronic Payment Service Providers’ Association (EFISZ) conducted a national representative public opinion poll with contribution of its members on electronic payment in Hungary during the epidemiological situation. The survey, conducted as part of the professional work related to the development of the Electronic Payment Strategy (EPS), covered public knowledge, preferences and needs in connection […]

The National Bank of Hungary (Magyar Nemzeti Bank - MNB) has built a EUR 10 billion safety net through agreements with major central banks. According to MNB, the economic policy pursued over the past decade has helped to achieve and maintain macroeconomic balance in Hungary and reduced the country’s external and internal vulnerability, thereby significantly […]

The volume of construction output, based on raw data, was 20.1% lower in Hungary in May 2020 compared to the high base of the previous year, the country's Central Statistical Office reports. Output decreased in both main groups of construction: in the construction of buildings by 24.0%, in civil engineering by 15.6%. Based on seasonally […]

In May 2020, the average monthly number of employed people was 4 million 399 thousand, which is 134 thousand less than a year earlier. The economic consequences of the coronavirus epidemic are reflected in the employment data reported by the Central Statistical Office.Over the period of March–May 2020, the average number of employed people in […]

At its meeting on June 23, 2020, the Monetary Council of the National Bank of Hungary (MNB) reviewed the latest economic and financial developments and lowered the central bank prime interest rate by 15 basis points to 0.75% with effect from June 24, 2020. In a press release, MNB says that its mandate in the […]

Following the change of regime, the Budapest Stock Exchange (BÉT) reopened its doors on June 21, 1990 with 41 founding members and a single listed share, that of the travel agency IBUSZ. The Hungarian stock exchange started operating on January 18, 1864 in Pest, at the headquarters of the Pest Lloyd Company on the bank […]

Although the GKI economic sentiment index rose by a larger extent in June than in May, it eliminated only less than half of its April fall. The consumer confidence index rose to a greater extent in May and the business confidence one in June.  According to the empirical survey conducted by the Hungarian Economic Research […]

The number of payment cards and, in line with the outbreak of the coronavirus pandemic, as a result of the rapid growth in home delivery services and preference to contactless payments, the number of virtual merchant outlets accessed via internet increased significantly in Hungary in the first quarter of 2020. An information release by the […]

More than a third of the Hungarian population has been using less cash since the outbreak of the COVID-19 pandemic, according to a recent representative poll conducted by Pulzus Kutató for Napi.hu. One in six people switched to another payment solution because of the coronavirus, but most have replaced traditional payments because of new services, […]

In April, 2020 the volume of industrial production declined by 36.8% year-on-year. Based on working-day adjusted data, production fell by 36.6%. The economic effects caused by the coronavirus epidemic were significant in this period. According to data by Hungary's Central Statistical Office, the manufacture of transport equipment fell outstandingly, to one-fifth, due to the temporary […]

The financial news site portfolio.hu calculated from data published by the Central Statistical Office that in April, 425,000 people in Hungary considered themselves unemployed, which is an increase of 140,000 compared to the period before the coronavirus crisis. Some of them will be able to return to work in the next period because they were […]

Two-thirds of Hungarians support the idea of ​​adopting the euro and replacing the forint as soon as possible, according to a recent poll conducted by Pulzus Research for the news site Napi.hu. However, the reality of the move is small for the time being. To the question, "Would you support the introduction of the euro […]