News in Brief
Government launches steps to support economic recovery
The draft measures will be submitted at a full cabinet meeting in September.
Economy
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News in Brief
Finance Ministry: Hungary’s economy has returned to a growth path
The budget deficit reached 107.8 billion forints for the month of June alone which is the best indicator in 22 years.
News in Brief
Gulyás: 2024 goal is to return to normal fiscal management
Gergely Gulyás said last year both the deficit and the public debt narrowed and the aim is to achieve the same this year.
Blog
Minister for National Economy Márton Nagy: The pace of growth regarding wages in real terms is to accelerate this year
A happier and more successful year to come: In 2024, we must focus on the internal economy
News in Brief
Hungary’s cash flow-based budget deficit narrows to 3,264.9 billion HUF
The cash flow-based budget deficit narrowed to 3,264.9 billion forints (EUR 8.4bn) at the end of September on a surplus of 33.7 billion forints for the month.
Blog
Hungary’s 14-point plan to crack down on inflation is coming to fruition
With the war in Ukraine and the EU’s misguided sanctions policy driving prices to record highs in Hungary, the government has been drafting plans to tackle inflation.
News in Brief
EC spring forecast puts Hungary's GDP growth at 0.5% for 2023
The EC forecasted Hungary’s annual GDP growth to slow down from 4.6% in 2022 to 0.5% in 2023, and then pick up to 2.8% in 2024.
News in Brief
FM: Severing cooperation between Europe and China would “knock out” European economy
The foreign minister told a forum of the UN Economic Commission for Europe (UNECE) dealing with sustainable development that dialogue and connectivity are needed.
News in Brief
Gulyás: Hungarian GDP is 77% of EU average
Gergely Gulyás said Hungary had grown despite “two years of Covid and one of war”.
News in Brief
Finance Minister unveils economic policy goals on The Bold Truth About Hungary podcast
Minister Varga acknowledged that 2023 will be the “most dangerous year” for Hungary since the change of system, which will require “a reduction of risks and a buildup of reserves”.
News in Brief
PM Orbán: Europe has lost its independence, its economic and military strength
Hungary needs to protect its independence and the “pro-peace position against the Biden administration and Brussels," the prime minister said.
News in Brief
Gulyás: Government relies on economic players and authorities to reduce inflation
Gergely Gulyás mentioned a review of Hungary’s pricing practices as “extremely important” and said the competition authority had relevant powers in the area.
News in Brief
Finance Ministry: Hungarian economy has proved resilient
The government’s measures serve as a good basis to avoid recession in 2023 and bring economic growth back above 4% next year.