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Economy

Hungary plans no Eurobond issue before IMF/EU credit deal - ÁKK Dep.CEO

Hungary’s Government Debt Management Agency (ÁKK) has accepted the viewpoint of the National Economy Ministry therefore it will not issue a foreign currency bond before the government would secure a financing agreement with the International Monetary Fund (IMF) and the European Union, ÁKK Deputy Chief Executive... 

Opel expects production boom, headcount increase in Hungary

The Hungarian Opel plant sees a jump in production volumes ahead, as a response to which it expects to... 

No more new taxes in Hungary - state secretary

Hungary will not implement any new taxes, said Zoltán Cséfalvay, state secretary at the Economy Ministry.... 

EBRD revises GDP estimate for Hungary upward, sees mild recession in 2012

The European Bank for Reconstruction and Development (EBRD) has revised its projection for Hungary’s... 

ANALYST VIEW - Hungary seeks to avoid IMF deal or at least loosen conditions - Citi

The Hungarian government is still gambling, it is holding up the start of formal talks on a credit facility... 

ANALYST VIEW - Hungary commitment to seal IMF deal remains questionable - RBS

Economists at the Royal Bank of Scotland have just concluded a “superb trip" to Budapest and on... 

"Negative buzz" around Hungary over new taxes

The optimistic mood that was sparked a month ago when the European Commission gave Hungary the go-ahead... 

Hungary Parliament nods on new telecom tax, Telenor to deflect levy on clients

Telenor Hungary, a member of the international Telenor Group, will comprise the new telecommunications... 

Hungarians will take half of their bank deposits abroad if transaction tax remains unchanged - Patai

The Hungarian Banking Association takes note that the government wants to implement a financial transaction... 

Hungary PM wants to suspend party subsidising from state budget in 2013-14

Hungary’s Prime Minister, Viktor Orbán, has proposed the national eleced board of his ruling Fidesz... 

Hungary real wages drop 5.2% yr/yr in March (2)

(Adds details, charts) Gross wages in the Hungarian economy grew by 2.7% year on year, while net average... 

BofA/ML convinced by Hungary's commitment to fiscal consolidation

Bank of America Merrill Lynch has released a basically upbeat note after a trip to Budapest, which convinced... 

Hungary Fidesz popularity lead over Socialists dips to 9 percentage points

Hungary’s ruling Fidesz party enjoys a 37% approval rating among voters with party preference... 

Hungary EcoMin publishes macro assumptions for 2013 budget

Hungary’s Economy Ministry has on Thursday published the macroeconomic conditions necessary to... 

IMF ready to start talks with Hungary once c.bank issues are resolved - Ivaschenko

The International Monetary Fund (IMF) is ready to start talks with Hungary on a financial assistance... 

Hungary could start talks with IMF/EU on credit in June - Fellegi

Hungary expects to start talks about a new financing deal with the European Union and the International... 

Hungary future IMF negotiator says fiscal policy and economic development may be separated

Mihály Varga, Hungary’s incoming aid negotiator, expects formal negotiations with the International... 

Hungary budget gap below 2% of GDP in Q1, brutal impact from early repayment scheme

According to preliminary financial accounts data, Hungary’s general government net lending was... 

Nabucco submits proposal on short-cut version

The Nabucco Consortium has on submitted a proposal to the Shah Deniz II Consortium for the construction... 

This is what the IMF does not want to see in Hungary's c.bank law - paper

The biggest problem of the International Monetary Fund (IMF) with regard to Hungary’s Central Bank... 

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Commentary

ANALYST VIEW - Hungary seeks to avoid IMF deal or at least loosen conditions - Citi

The Hungarian government is still gambling, it is holding up the start of formal talks on a credit facility... 

ANALYST VIEW - Hungary commitment to seal IMF deal remains questionable - RBS

Economists at the Royal Bank of Scotland have just concluded a “superb trip" to Budapest and on... 

BofA/ML convinced by Hungary's commitment to fiscal consolidation

Bank of America Merrill Lynch has released a basically upbeat note after a trip to Budapest, which convinced... 

more commentary...
     
     
Macro Snapshot
General government balance (monthly, bn HUF)12-04+289,3 mrd Ft
Current account balance (m EUR)10Q4365.9 m euró
Interest rate on forint-based consumer credit (APR)11-0422.56 %
GDP growth (yr/yr, adjusted for calendar impact)12Q1-1.3 %
Inflation (annual consumer price index)12-015.5 %
Infláció (medium-term target)08-083.0 %
Industrial production (working day adjusted, yr/yr)12-03+0.6 %
Benchmark interest rate12-037.00 %
Retail sales (yr/yr, adjusted for calendar impact)12-02-1,4 %
Foreign trade balance (m EUR)12-03+608.2 m euró
Interest rate on fixed HUF deposits (within 12 months, annualised)11-045 %
Unemployment rate (average of 3 months before publication)12-0311.7 %
Corporate forint lending rate - short term11-049 %
Views and Interviews

Hunagry c.bank needs to be "extremely cautious" due to "bumpy" IMF talks - Karvalits

Ferenc Karvalits, Deputy Governor of Hungary’s central bank (NBH) said the government’s aid talks with the IMF is an important factor for monetary... 

Hungary c.bank can cut rates once risk perception is much better, risk premium drops - Karvalits

Hungary’s central bank (NBH) sees no room to lower its key policy rate, the highest in the European Union, until risk perceptions improve, NBH Deputy... 

Hungary remains far from inking a credit deal with the IMF/EU - Lubin (Citigroup)  

The main benefit of a credit deal with the IMF/EU for Hungary would absolutely be the reduction in the risk premium, but an agreement is still a long way... 
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Links (Economy)
Latest news

11:04 | Hungary plans no Eurobond issue before IMF/EU credit deal - ÁKK Dep.CEO

09:19 | Opel expects production boom, headcount increase in Hungary

08:35 | No more new taxes in Hungary - state secretary

16:51 | EBRD revises GDP estimate for Hungary upward, sees mild recession in 2012

16:27 | ANALYST VIEW - Hungary seeks to avoid IMF deal or at least loosen conditions - Citi

15:59 | ANALYST VIEW - Hungary commitment to seal IMF deal remains questionable - RBS

15:23 | "Negative buzz" around Hungary over new taxes

14:41 | Hungary Parliament nods on new telecom tax, Telenor to deflect levy on clients

13:38 | Hungarians will take half of their bank deposits abroad if transaction tax remains unchanged - Patai

13:27 | Hungary Magyar Telekom CEO buys 42,000 company shares

09:27 | Hungary PM wants to suspend party subsidising from state budget in 2013-14

09:01 | Hungary real wages drop 5.2% yr/yr in March (2)

16:27 | BofA/ML convinced by Hungary's commitment to fiscal consolidation

14:21 | Hungary Fidesz popularity lead over Socialists dips to 9 percentage points

14:14 | Hungary ÁKK sells HUF 6.5 bn bonds in non-competitive tenders

14:08 | Hungary EcoMin publishes macro assumptions for 2013 budget

14:00 | IMF ready to start talks with Hungary once c.bank issues are resolved - Ivaschenko

12:09 | Hungary lifts bond auction over strong bidding, yields rise

11:45 | Hungary Egis expects domestic exposure to decrease

10:37 | Hungary could start talks with IMF/EU on credit in June - Fellegi

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