Real Wages Fall By 1.9% YY in September
Real wages in Hungary fell by an annual 1.9% in September, as double-digit nominal wage growth couldn’t keep up with a CPI that edged over 20%, the Central Statistical Office (KSH) said.
Economy
Black Friday – Be Careful and Pay Attention to These Things!
According to the official state register, there are 586 online stores in Hungary today that have problems with delivery, warranty or customer cancellation. But this list does not include those online stores and fake Black Friday advertising sites, where there is no store or customer service at all, there is no product, so there is […]
Forint Strengthened on Thursday Morning
The forint strengthened against the main currencies on Thursday morning compared to the previous evening’s quotation in international foreign exchange trade.
Budget Runs HUF 101 BN Surplus in October
The budget ran a 101.3 billion forint (EUR 248.3m) surplus in October, the finance ministry confirmed in a detailed reading of data released on Wednesday.
MPs Approve Tax Changes
Lawmakers voted on Tuesday to extend the preferential VAT rate on home construction and exempt advertising companies from a sectoral tax.
AD’s Transfers to Hungarian Civil Organizations, Companies Worth Over HUF 3 BN
The US-based Action for Democracy civil organisation transferred 1.8 billion forints (EUR 4.4m) worth of funding to the Everyone’s Hungary Movement (MMM) and an additional 1.15 billion to three Hungarian companies last spring and summer, Brigadier General Zoltán András Kovács, the director-general of the National Information Centre (NIK), said in a written response to Zoltán […]
“Central Bank to Keep High Interest Rates in Place”
Monetary policy must remain stringent until risks decline across the board, and so the 13% base rate and the 18% overnight rate will remain in place in the longer term, Barnabás Virág, deputy governor of the National Bank of Hungary (NBH), told a conference on Wednesday.
Store chains in Hungary expect more thoughtful customers and a more restrained holiday season
Buyers are noticeably more thoughtful, they are looking for sales and cheaper products, so the department store chains expect a more restrained end-of-year holiday season than before, according to the overview prepared by MTI.
Hungary Central Bank Leaves Base Rate on Hold
Hungarian rate-setters left the base rate on hold at 13% at a regular policy meeting on Tuesday. The Council also decided on Tuesday to keep the central bank’s O/N deposit rate at 12.50% and the O/N collateralised loan rate at 25%.
OECD Raises Hungary 2022 GDP Growth Forecast to 6.0%
The OECD raised its forecast for Hungary’s GDP growth this year to 6.0% in its biannual Economic Outlook published on Tuesday. The forecast was raised from 4.0% in June.