Hungarian inflation unexpectedly jumped to 3.8% percent in July. After that announcement last week by the country's Central Statistical Office said last week, it has now also become clear that nowhere in Europe such a rate of price rise has been measured, portfolio.hu reports. The financial website notes that one-off effects also played a role […]

Hungary’s worse-than-expected economic performance in the second quarter of 2020 may force the government to rethink this year’s budget and financing plan. The weak data could also compel the central bank to alter the course of monetary policy. Hungary’s second-quarter gross domestic product dropped by 13.6%, according to raw data published by the Central Statistical […]

The gross domestic product of Hungary went down by 13.6% according to raw data and by 13.5% according to seasonally and calendar adjusted and reconciled data in the 2nd quarter of 2020 compared to the corresponding period of the previous year. According to an explanation by the Central Statistical Office, the extraordinary situation resulting from the […]

This year has brought about challenges for the globe that previously only sci-fi writers imagined. In spring, the world economy seemed to screech to a halt, scores of companies saw their existence in danger, millions of workers were unable to work, and raw materials procured from abroad failed to arrive or did so with a […]

Consumer prices were 3.8% higher on average in July 2020 than a year earlier. Significant price rises were measured over the past year for food as well as alcoholic beverages and tobacco. Data published today by Hungary's Central Statistical Office suggest that in the past 12 months, compared to July 2019, ood prices went up by […]

As the world is preoccupied with tackling the economic fallout caused by the coronavirus crisis, a new trend is emerging: a more pronounced drive toward sustainable consumption. Less meat and shorter travels, more local produce in the shopping cart, and a conscious departure from mass consumption are the key aspects of this new consumer behavior. […]

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 […]