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Hungarian households keep savings in cash, bank account

August 17, 2018, 4:17 pm
Net lending of households was equivalent to 5.8% (HUF 2,283 bn) of quarterly GDP in the four quarters to Q2 2018 and to 6.3% (HUF 640 bn) of quarterly GDP in Q2 alone, according to preliminary financial... 

Hungary public debt reaches 74.5% of GDP in Q2

August 17, 2018, 12:42 pm
Hungary's general government consolidated gross debt stood at 74.5% of GDP at the end of the second quarter, the third quarter in a row when the figure rose, financial accounts published by the National... 

E.ON Hungary signs HUF 1.6 bn laptop deal with 4iG

August 17, 2018, 9:54 am
HUMANsoft, a dully owned subsidiary of publicly traded IT group 4iG, has signed an EUR 5 mn (HUF 1.6 bn) deal to supply IT equipment for field workers at E.ON's Hungarian companies. The open public... 

Hungary faces shortage of cleaners

August 17, 2018, 9:11 am
Labour shortage in the cleaning industry, which employs upwards of 50,000 people, is at least 20%, Világgazdaság reported on Friday. Labour shortage has been a problem for a long time, Zoltán Paár... 

Property funds drive growth in Hungary investment market in July

August 16, 2018, 5:26 pm
The share of property funds in the domestic investment market grew to 20.7% in July as assets managed by investment funds in Hungary neared HUF 6,300, according to the latest data by the Association of... 

Hungary to pay extra pensions this fall if growth keeps up

August 16, 2018, 1:27 pm
Hungarian pensioners can expect a so-called pension premium if economic growth makes it possible, the Finance Ministry told state news wire MTI on Thursday. The government has set aside HUF 32 bn for this... 

Hungary debt manager sells HUF 61.5 bn in bonds

August 16, 2018, 12:58 pm
Hungary’s Government Debt Management Agency (ÁKK) allotted 61.5 billion worth of government bonds at its biweekly auctions on Thursday instead of the planned HUF 50 bn. The average yields rose significantly... 

Fuel sales continue to grow in H1 in Hungary despite high prices

August 16, 2018, 9:10 am
Sales at Hungarian fuel stations continued to grow in the first half as motorists bought 8.2% more fuel than in H1 2017, the Hungarian Petroleum Association (MÁSZ) said. By volume, sales of gasoline... 

Corporate loan stock up 15% y/y, Hungary central bank says

August 15, 2018, 5:44 pm
Corporate lending is at a new peak as the stock of debt owed by domestic businesses grew nearly 15% over a year to the highest in a decade, figures published by the National Bank of Hungary (MNB) on Wednesday... 

Trade unions outraged over gov't bureaucrat axe plan

August 15, 2018, 4:56 pm
It is unacceptable for the government to announce a 15 to 20% cut in central public administration headcount without prior talks and impact studies, the Hungarian Trade Union Confederation (MaSZSZ) stated... 

Hungary Mol to raise diesel prices on Friday

August 15, 2018, 2:08 pm
Hungarian oil and gas group Mol is to raise the wholesale list price of diesel fuel by HUF 3 per litre on Friday, while leaving the price of 95-octane gasoline unchanged. The average price of gasoline... 

Hungary external financing capacity lower in Q2

August 15, 2018, 11:14 am
Hungaryʼs net external financing capacity - the combined surpluses of the current and capital accounts - was EUR 1.38 billion in the second quarter of 2018, state news agency MTI calculated, based... 

Malfunction at Hungary's Paks nuclear plant lowers output

August 14, 2018, 4:49 pm
Hungary’s Paks nuclear power plant on Tuesday said it had lowered output of one of its four blocks due to an unspecified electrical malfunctioning, according to a statement posted on its web site.... 

Hungary to ban Kaspersky from gov't computers

August 14, 2018, 4:22 pm
Hungary will ban the use of products from Kaspersky Lab, a Russian company accused of using its software to spy on U.S. government agencies, on all government PCs. The measure is in line with a recently... 

Hungary households' share stock HUF 586 bn in June

August 14, 2018, 1:39 pm
The stock of shares owned by households rose 1.6% in June from the end of May to HUF 585.9 bn and was more than 44% higher than a year earlier, but still remains slightly below April's HUF 594 bn record... 

Hungary to cut public administration 15 to 20%

August 14, 2018, 12:43 pm
The government of Hungary is planning to reduce headcount in the public administration from the current 14,000, with an estimated 15 to 20% of jobs on the line, Gergely Gulyás, head of the Prime Minister's... 

Hungary Q2 GDP up 4.4% y/y

August 14, 2018, 9:15 am
The performance of the Hungarian economy was 0.9% higher in the second quarter than in the first three months of 2018, the Central Statistical Office (KSH) said on Tuesday. Seasonally and working-day adjusted... 

Hungary central bank keeps banking system liquidity level at HUF 1.9 trillion

August 14, 2018, 9:00 am
The National Bank of Hungary (MNB) has allotted HUF 75 billion of swaps against euros at a fine-tuning tender on Monday, keeping the total stock of excess liquidity ensured by the MNB for the local banking... 

Investors oversubscribe Takarék CMBs at auction

August 13, 2018, 4:45 pm
Mortgage Bank Takarék Jelzálogbank (formerly FHB) sold HUF 18 bn worth of its 10-year covered mortgage bonds at today's auction, the bank announced. Takarék, the second largest mortgage bank in Hungary... 

Hungary leasing market soaring amidst higher interest rates

August 13, 2018, 1:38 pm
The total amount financed in the Hungarian leasing market was HUF 329 bn, up 18% from a year earlier. The Hungarian Leasing Association attributes the good performance to vehicle financing, which continues... 
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