News in Brief
Gulyás: Economic growth is expected to return next year
Hungary may enjoy the highest economic growth in the region in 2024.
Economic Growth
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News in Brief
Finance Minister: Hungary’s economy is expected to grow by 4% next year
Minister Varga said the investment rate in Hungary was high, at 28% of GDP, “the highest rate in the EU”, promising good prospects for the upcoming period.
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Finance Minister: Aim of 2024 budget is to protect Hungary's security, families, pensions, jobs and utility price caps
The draft budget calculates a 4% economic growth and a deficit of 2.9% of GDP. State debt is expected to go down to 66.7%, and inflation to an annual 6%.
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Finance Ministry: Hungary’s economy to avoid a recession in 2023 and return to steep growth next year
The economy’s foundations are robust, with one of the lowest unemployment rates in the EU and the number of jobholders stable at around 4.7 million.
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EBRD forecasts annual economic growth for Hungary of 0.4% this year
The EBRD sees Hungary’s GDP growth picking up to 3.5% in 2024 as external demand improves and real incomes recover.
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Finance Minister: Hungary is on a growth path both this year and next
The finance minister said Hungary’s development level has increased to 77.7% of the European Union average from 66.1% in 2010, allowing the country to overtake Portugal, Romania and Slovakia, among others.
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Central bank expects inflation to fall “moderately” in coming months
András Balatoni said disinflation is expected to accelerate in the second half of the year and return to the central bank tolerance band in 2024.
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Government expects Hungary's economic growth to continue
Minister Varga said major resources are expected to be spent on energy-efficiency developments and businesses can participate in these as suppliers.
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Hungary’s cash flow-based budget posted a 4,753.4 billion forint deficit in 2022
According to official data, the deficit widened by 1,287.0 billion in December alone.
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Nagy: Government is working to protect economy
Minister Nagy said Hungary’s government had protected growth which may come to 5% in 2022, and aims to avoid recession in 2023.
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KSH: Average gross wage in Hungary rose by an annual 16.6%
KSH has confirmed that the average gross wage in Hungary rose by an annual 16.6% to 497,200 forints (EUR 1,200) in August.
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Finance Minister: Government working to ensure economic development
Mihály Varga said measures taken to maintain stability and balance last year should be continued.
News in Brief
Finance Minister: Hungary’s economy among fastest growing in EU
Hungary had a 6.5 percent increase in the second quarter of this year which is over 50 percent more than the European Union average.