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Finance

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| americanexpress.com

Corporate bank cards increase in number

D&T
Jul 24, 2017

The market for business bank cards in Hungary has grown steadily over the last two years, according to statistical figures published by the National Bank of Hungary. It is while the total market has virtually stagnated according to the number of units.

| Can Stock Photo Inc./Eyesee10

EU funds produce great Hungarian budget surplus

D&T
Nov 5, 2015

Hungary posted HUF 138.4 billion budget surplus in October, the financial website portfolio.hu quotes a preliminary data report published by the National Economy Ministry. It is attributable to previously suspended EU funding that has now been disbursed.

| Dávid Harangozó

Hungarian gov't takes out EUR 500 mn loan

D&T
Sep 28, 2015

The European Investment Bank (EIB) is granting EUR 500 million, the first tranche of an approved loan amount of EUR 1.5 billion, to Hungary to -as the government claims - co-finance priority projects receiving support from EU funds.

| Can Stock Photo Inc./viperagp

Hungary's state debt at record high

D&T
Jul 16, 2015

Hungary's public debt has never been over HUF 25,000 billion - until now. According to the Hungarian Debt Management Center, a recent increase of 1,377 bn brought it over the 25,000 bn level. Government officials cliam the increase is only temporary.

People line up for information on their money in front of brokerage branch office in downtown Budapest | Tamás Kovács / MTI

Brokerage scandal continues in Hungary

D&T
Mar 10, 2015

The National Bank of Hungary suspended the brokerage licence of the Hungarian Quaestor on Tuesday, citing regulatory shortcomings, and said the firm may also have issued many more bonds than permitted under its issuance program, the Reuters reported.

| Dim Dimich/Shutterstock.com

Hungary's debt close to all time high

D&T
Aug 18, 2014

Hungary’s gross general government debt was 85.1% of gross domestic product at the end of the second quarter of 2014. It is believed to be related to the peculiar course in Hungary’s debt financing and a correction of the end-2013 doctoring of debt figures.

FX loan debtors protest in front of Hungarian Parliament | Szilárd Koszticsák / MTI

Government to eliminate FX loans

D&T
Jul 7, 2014

Foreign-currency denominated loans will be eliminated from Hungary's lending market by way of converting them to Hungarian forint (HUF) loans before the end of this year, Minister of National Economy Mihály Varga told public media on Monday.

The ING office building in Budapest | source: insurance-vacancies.com

ING Investment Management leaves Hungary

D&T
May 21, 2014

ING Investment Management, which was the third-largest on the Hungarian market in 2010 with HUF 1.2 trillion worth of funds managed, is winding up its local operation. The company’s foreign owner decided to cease operation of the Hungarian unit as of July 2014.

| Jakub Krechowicz/Shutterstock.com

Hungary's public debt remains over 80pc of GDP

D&T
Jan 2, 2014

Hungary’s general government consolidated gross debt at nominal value (or called the Maastricht debt) was 80.2% of GDP at the end of the third quarter of 2013, according to financial accounts data relesead by the National Bank of Hungary. (NBH).

EBRD President Suma Chakrabarti (on the left) received by Hungarian National Economy Minister Mihály Varga in Budapest | Hungarian Ministry for National Economy

EBRD President in Budapest

D&T
Nov 19, 2013

The President of the European Bank for Reconstruction and Development (EBRD), Suma Chakrabarti paid a visit to Budapest where he discussed with Minister for National Economy Mihály Varga several ussies on the agenda between the bank and Hungary.

| D&T archive

Hungarian base rate lowered to all-time low

D&T
Mar 26, 2013

The Monetary Council of Hungary’s central bank (MNB) has decided to lower the base rate by 25 basis points to an all-time low of 5.00% on Tuesday, in line with the market’s call. It was the first rate setting under newly appointed Governor György Matolcsy.

György Matolcsy at the parliamentary hearing | Tamás Kovács / MTI

Matolcsy named new Central Bank governor

D&T
Mar 1, 2013

Hungary’s Economics minister György Matolcsy has been nominated by Prime Minister Viktor Orbán as the next Governor of the National Bank of Hungary (NBH). Matolcsy follows András Simor whose six-year mandate expires on March 3.

| Dávid Harangozó

Hungary's debt increases significantly

D&T
Feb 18, 2013

The state debt in Hungary was of the second highest value ever at the end of January when the debt of the central budget was HUF 21,187.8 billion (currently over EUR 72 billion), which means a huge increase of HUF 467.7 billion over a year.

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