News in Brief
Nagy: GDP could jump as high as 4% in 2024
The minister said last year was “one of the hardest since the change of regime” in 1989, with skyrocketing energy prices accounting for 10% of GDP, presenting a bill of...
Márton Nagy
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News in Brief
Nagy: Government is determined to avoid a recession this year
The Hungarian government's goal is to secure growth of 1.5% this year following a 4.5% growth in 2022, notwithstanding the mounting economic challenges.
News in Brief
Minister Nagy underlines importance of Turkish-Hungarian cooperation
Economic cooperation between Turkey and Hungary is flourishing and bilateral trade is at an unprecedented level.
News in Brief
Government extends SME subsidy program
Under the scheme, the government is compensating SMEs in energy-intensive manufacturing sectors as well as in the commercial accommodations business for up to half of the increase in their energy...
News in Brief
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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Vodafone Hungary deal signed
Corvinus has signed a deal to purchase a 49% stake in Vodafone Europe's Hungarian unit, while 4iG unit Antenna Hungária is acquiring a 51% stake in the telecom company.
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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.
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.
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Hungary's industrial output grew by an annual 5.9% in October
KSH said the output of the automotive industry and the computer, electronics and optical equipment sectors showed “significant” growth.
News in Brief
Nagy: Government’s action plan has saved jobs
Márton Nagy said that in November, 233,609 people were on NFSz’s records as job seekers, “the fourth lowest figure ever”.
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Parliament approves independent energy ministry
The energy ministry headed by Csaba Lantos will start operating as of December 1.
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Government announces economic support measures
The Hungarian government is freezing interest rates on loans to small and medium-sized firms from Nov. 15 until July 2023.
News in Brief
Government freezes mortgage interest rates until June 30, 2023
The measure will now protect 350,000 families from having to pay a “sanctions interest surcharge”.