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”.
Economy
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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”.
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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.
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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.
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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.
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Nagy: Number of jobseekers sank to record low in 2022
The number of jobholders has remained above 4.7 million for six months, while the number of jobseekers sank to a record low in 2022.
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Factory gate prices rose by annual 37% in November
In a month-on-month comparison, factory gate prices edged down 0.8% as prices for domestic sale rose by 1.6% but export prices fell by 2.0%.
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Government sector deficit at 3.7% of GDP in Q1-Q3
News in Brief
Finance Minister: Public debt fell faster than projected last year
Public debt was 73.5% of GDP last year as against 76.8% in 2021.
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Hungary’s PMI rose to 63.1 points in December
A PMI over 50 signals expansion in the manufacturing sector.
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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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Government submits draft budget amendment to Fiscal Council
“The most important task for next year is to protect Hungarian families and jobs, preserve the value of pensions, maintain the utility reduction scheme and guarantee the security of the country,” the finance ministry said.
News in Brief
Government aims to reduce budget deficit to 3.5% of GDP in 2023
The Hungarian government aims to reduce the budget deficit to 3.5% of GDP in 2023 from this year’s deficit of 4.9% and expects the economy to grow by 1.5% following the 5% expansion expected this year.