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Economy

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Hungarians Jump on Savings Bandwagon amid Pandemic

D&T
Nov 20, 2020

Hungarians demonstrated a strengthening inclination to set aside financial reserves amidst the coronavirus crisis. As a result, the financial assets of the population have increased by 5% since the end of last year despite many households witnessing a drop in disposable income. The most popular products in the savings market in the first three quarters […]

Hungarian Economy: Up but Lower Year on Year

D&T
Nov 13, 2020

The gross domestic product of Hungary went down by 4.6% according to raw data and by 4.7% according to seasonally and calendar adjusted and reconciled data in the 3rd quarter of 2020 compared to the corresponding period of the previous year. However, data just released by the country's Central Statistical Office also suggest that compared to […]

Jobs in Peril

D&T
Oct 30, 2020

After a short respite in the summer months, Hungary’s unemployment rate set out on a upward trajectory in September, reflecting the negative impact of the pandemic on the nation’s economy. The somber economic outlook gives little hope that the trend will reverse any time soon. Hungary’s unemployment rate rose for the first time in four […]

Future of Finance in Hungary

D&T
Oct 23, 2020

The coronavirus pandemic has proven that it is time to retire unwieldy, passé business models that are not cutting it anymore in the financial sector. As economic uncertainties take center stage the world over, Hungary’s financial managers place their hope in automation and digitalization to weather the storm. The challenges and expectations of financial managers […]

The End of an Era?

D&T
Oct 1, 2020

The adversities caused by the coronavirus pandemic are engulfing new sectors of the economy and few are likely to escape unscathed. Experts warn that the Hungarian property market is also set to suffer in the coming quarters with many owners being forced to sell and buyers being few and far between. In recent years, many […]

Winners of the Global Pandemic

D&T
Aug 13, 2020

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 […]

Participants of the OECD Productivity Forum in the Pest Vigadó event center | Zoltán Balogh /MTI

OECD forum in Budapest

D&T
Jun 26, 2017

The 3rd Global Forum on Productivity organized by the Organization for Economic Cooperation and Development fostering international co-operation between public bodies and promoting productivity-enhancing policies has opened in Budapest.

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OECD report: Hungary lagging behind

D&T
Mar 14, 2016

In order to boost employment, Hungary should reduce the burden of labour income taxation, especially for low-earners, and devote more funds to human capital and research & development in order to improve its lagging behind developed OECD countries.

| source: GKI

Consumer business confidence index slips

D&T
Feb 22, 2016

Compared to its very high January level, the seasonally adjusted GKI economic sentiment index decreased by a rate that has not been seen for a year. Expectations deteriorated in all sectors and among consumers, but they still reflect an optimistic mood.

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Family businesses at crossroads

D&T
Jul 19, 2015

Nearly half of all family businesses in the CEE region plan changes in ownership within the next 5 years. But most of them don’t have clear processes in place for this turnover and require restructuring to be competitive in the future.

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EuCham on Competitiveness Index

D&T
May 16, 2015

European Chamber’s Competitiveness Index lists the countries based on the Global Competitiveness Index (GCI) improvement from the global financial crisis in 2008 to the present. Switzerland, Germany and Scandinavian countries are competitively dominant in Europe, Macedonia and Bulgaria are far behind.

| Shutterstock.com/Simone Simone

End of recession in sight

D&T
May 14, 2015

A mild recovery is forecast for 2015, with growth set to reach 1% in 2016, spurred by EU-funded investments. Fiscal consolidation needs and limited structural reforms, however, continue to hold back potential growth. Employment is still expected to stagnate in 2015 - according to the analysis and forecast of the European Commission.

The presentation of the 2014 HEBC report in Budapest | Szilárd Koszticsák / MTI

HEBC for sustainable and inclusive growth

D&T
Jul 17, 2014

The Hungarian European Business Council, incorporating the most important international companies present in Hungary, has published its 16th annual report, calls on the Hungarian government to create "sustainable and inclusive growth".

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