Economy

The Nabucco Consortium has on submitted a proposal to the Shah Deniz II Consortium for the construction of a “Nabucco West" pipeline, which would bring Caspian gas from the Bulgarian-Turkish border... 

The biggest problem of the International Monetary Fund (IMF) with regard to Hungary’s Central Bank Act is not among the well-known concerns, local business daily Napi Gazdaság reported on Wednesday.... 

Hungary's government has more than enough financing to cope should the situation in Greece deteriorate further, an official at the economy ministry said on Wednesday. "We have no direct linkages with... 

Hungary’s government is apparently mulling a new real estate tax. A bill submitted to Parliament shows that as of 2013 local governments may demand up to 10% of the value growth when owners sell... 

Hungary can realistically reach an agreement with the International Monetary Fund (IMF) on a EUR 15 billion financial assistance programme in the autumn, said Mihály Varga, the Prime Minister’s chief... 

In a speech made at a conference organised by the State Audit Office on Tuesday, the Governor of Hungary’s central bank (NBH), András Simor, said that in the Bank’s technical projection assuming... 

(Adds comment by Citi, Nomura on page3) According to the flash estimate the Hungarian economy contracted by 0.7% year on year in Q1 2012, below market consensus (-0.4%), while the working-day-adjusted... 

Hungary’s gross domestic product (GDP) declined by 0.7% year on year in the first quarter of 2012, according to unadjusted figures, which comes after a 1.7% growth in Q4 2011, the Central Statistics... 

Despite the difficult market conditions Hungary’s Generali-Providencia insurer boosted its after-tax profit by 42% year on year to HUF 4.9 billion (EUR 16.76 m) in 2011, the company announced on... 

Hungarian energy group MOL is to lower the wholesale list price of gasoline and diesel by HUF 5 and HUF 3 per litre, respectively on Wednesday, Portfolio.hu has learned on Monday. The move comes on the... 

No-frills airline Ryanair has announced on Monday that it introduces another new route in its summer schedule which will leave from Budapest to Dusseldorf airport. The new route from Hungary, starting... 

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 policy, but by far not the only one. He said... 

Hungary’s Economy Minister György Matolcsy has submitted bills on new taxes to Parliament. As expected, the transaction tax will not burden interbank deals, but everyday transactions such as cash... 

Hungary’s consumer price index picked up to 5.7% yr/yr in April from 5.5% in March, beating the market’s call (5.5%). The upside surprise has been partly driven by fuel prices but core price... 

The European Commission’s Spring Forecast published on Friday sends a send message for Hungary, namely that Budapest will report one of the slowest economic growth figures in the Central and Eastern... 

(Adds details, charts) Hungary’s economy is to contract by 0.3% in 2012 but grow by 1% next year, the European Commission said in its Spring Forecast on Friday. Brussels see the country’s... 

The replacement of Hungary’s chief aid negotiator announced by Prime Minister Viktor Orbán on Friday will be seen as a positive, commented Timothy Ash, economist at the Royal Bank of Scotland in... 

(Adds details, charts) Hungary’s consumer prices rose 5.7% year on year in April, the Central Statistics Office (KSH) has reported on Friday. Both the March print and the consensus estimate for... 

(Adds details) Hungary’s Prime Minister Viktor Orbán has announced on Friday that he will reshuffle his cabinet. Tamás Fellegi, who has been in charge of talks with the International Monetary Fund... 

Hungary's planned new financial transaction tax is entirely unacceptable for banks in its present form and violates an earlier agreement with the government, the chief of the country's banking association...