Hungary’s central bank governor Mihály Varga underscored the importance of currency stability, calling it essential for curbing inflation and laying the foundation for stronger growth. “Hungary’s economic convergence can’t be based on currency devaluation,” Varga said at an annual economics forum in Veszprém, stressing that the forint’s impact on prices has doubled compared to a […]
Hungarian Prime Minister Viktor Orbán has announced a new home subsidy plan targeting public sector employees as he gears up for a closely-fought 2026 election. The new measure will make doctors, nurses, teachers, and soldiers eligible for an annual home subsidy of HUF 1 million ( USD 2,870). These funds can be used either for […]
Hungary narrowly avoided slipping into recession in the second quarter of 2025, but fresh economic data and a downgraded growth forecast point to mounting challenges for Prime Minister Viktor Orbán ahead of next year’s general election. Gross domestic product rose by 0.4% in the April–June period, following a revised 0.1% contraction in the first quarter, […]
Hungary’s business sentiment took a sharp hit in July, plunging to levels last seen during the pandemic, in a further indication that the country’s economy may be teetering on the edge of another recession. Hungary’s business sentiment took a sharp hit in July, plunging to levels last seen during the pandemic, in a further indication […]
Hungary’s economic recovery faced a fresh setback in May as wage growth fell to its slowest pace in more than two years, signaling weakening household purchasing power and raising doubts about a consumer-driven rebound ahead of the 2026 election. Data released this week by the Hungarian Central Statistical Office showed that average gross wages rose […]
Hungary continues to face entrenched inflationary pressures, with new data confirming that price growth remains stubbornly high despite regulatory efforts by the government. Analysts expect this volatile trend to continue in the months ahead. Inflation accelerated in June, driven by rising costs in food, household energy, and services—even as Prime Minister Viktor Orbán’s administration enforced […]
The Hungarian government will provide up to $443 million (150 billion forints) annually in interest subsidies to first-time homebuyers as part of a new housing support programme, Prime Minister Viktor Orbán’s administration announced this week. The measure, which comes less than a year before a high-stakes general election, is aimed at easing access to home […]
Facing rising economic challenges and a growing need for external financing, Hungary has returned to international debt markets with a major dollar bond sale, signaling a shift in fiscal strategy and a bid to reassure investors of its financial footing. The Hungarian government raised $4 billion through a three-part dollar bond sale this week, ramping […]
Hungary’s inflation rate picked up in May for the first time in three months, highlighting the persistent challenge facing monetary policymakers even as headline figures suggest only modest price growth. The Central Statistical Office reported an annual inflation rate of 4.4%, up from 4.2% in April and slightly above economists' expectations. On a monthly basis, […]
Hungary’s central bank has decided to maintain its key interest rate at 6.5%, marking the eighth consecutive month without any changes. This move comes as policymakers remain focused on combating persistent inflation expectations, despite mounting challenges for the country’s export-driven economy. The decision to hold the benchmark rate steady was in line with expectations, with […]
Hungary’s Fiscal Council has voiced sharp concerns over the government’s 2026 draft budget, warning that it is built on overly optimistic economic forecasts and fraught with multiple financial risks. The Council pointed to low fiscal reserves, uncertainty over EU funding, and the potential impact of an intensifying US-led trade war as key vulnerabilities. The government, […]
Hungary's economy unexpectedly shrank in the first quarter as industrial weakness offset service sector gains, highlighting vulnerabilities in the export-dependent nation. Gross domestic product fell 0.2% from the previous quarter and remained flat year-on-year, the Budapest-based statistics office reported. The figures fell short of economists' expectations, with Bloomberg's survey having projected 0.4% growth for both […]
Job seekers in Hungary are showing increased interest in new opportunities even as employers remain cautious with their hiring plans, according to the latest quarterly report from Profession.hu, the country's leading job portal. While job advertisements decreased by 1% in the first quarter of 2025 compared to the same period last year, applications jumped by […]
Hungary's Budget Deficit Nears Annual Target Amid Economic ConcernsHungary's budget deficit has surged to 62% of the government's full-year target in the first quarter, following a significant shortfall in March—the second-largest for that month in 24 years. This development raises questions about the feasibility of the administration's revised economic growth projections, especially as the National […]
Hungary’s government has announced new price controls on essential food items as inflation continues to strain consumers. Economists warn that previous interventions of this kind have led to mixed results. Prime Minister Viktor Orbán announced this week that commercial grocers must limit their markup to no more than 10% of the wholesale price on 30 […]
