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.

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.

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.

The Hungarian European Business Council (HEBC) has published its annual report of recommendations for the Hungarian government. HEBC’s annual country reports contain the members’ non-political, practice-oriented experiences as investors.

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.

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.

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 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".

The National Debt Management Agency says that on January 31, the central government debt amounted to HUF 22,842 billion (appr. EUR 75 billion), that is an increase of HUF 843.9 billion (3.8%) compared to the year-end debt of 2013.

Hungary repaid its outstanding SDR 1.9 billion (EUR 2.15 bn) debt to the International Monetary Fund (IMF) on August 12. The governing party welcomes the move while the opposition considers it a costly communication bluff.

The Hungarian European Business Council, incorporating the most important international companies present in Hungary, has published its 15th annual report, calling on the Hungarian government to create "confidence and credibility."

The governing Fidesz majority of Hungarian Parliament has ruled that from now on, the National Bank of Hungary may get a government-appointed Vice Governor, the headcount of the rate-setting Monetary Council can be increased.

The Hungarian government’s "insistence on its unorthodox policy mix, together with an ill-founded hope that international lenders will eventually drop their provisions," Roubini Global Economics sums up Hungary's current situation in its latest research.

Hungary's Economy Ministry has released on its website that the government is planning to consider mergers in the public sector, is determined to achieve significant staff cuts, and keep wage costs at the current level.

The Israeli official in charge of economic and business relations between Israel and Hungary says the all-time largest volume of bilateral trade between Hungary and Israel, worth USD 514.1 million, was registered in 2008.