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Hungary Braces for Possible 2023 Budget Adjustment Amid Economic Slowdown

Aug 25, 2023

As Hungary's economy faces headwinds, the government is preparing for a potential revision of its 2023 budget. The decision, which could have significant implications for the nation's fiscal strategy, will be made following the release of third-quarter economic data. The reassessment comes as the government acknowledges that its initial full-year growth projection has become increasingly […]

Hungary’s Technical Recession Longest on Record

Aug 18, 2023

Hungary unexpectedly plunged deeper into recession, recording the longest period of economic contraction in at least 28 years as the war in Ukraine and the government’s economic policy stifle growth. Despite government statements to the contrary, economists are warning that growth may not pick up in the second half of the year, leading to a […]

Hungary’s economy entered technical recession in late 2022

Feb 17, 2023

Hungary’s economic performance stumbled at the end of last year, confirming analyst views that the economy was in a technical recession from the second half of last year. The government expects the economy to expand in 2023. Hungary’s statistical office reported a contraction for a second consecutive quarter this week. Gross domestic product (GDP) fell […]

Hungary’s economy shows signs of impending recession

Nov 18, 2022

Hungarian economic growth continued to slow in the third quarter of the year. Analysts expect further weakness in the coming couple of quarters as negative impacts amplify the drag on growth Economic growth in Hungary slowed from 6.5% in Q2 to 4% in July-September on an annual basis, below forecasts. The nation’s economy contracted 0.4% […]

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