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Hungary budget deficit reaches HUF 350 bn by end-July

August 23, 2019, 4:35 pm
Hungary’s general government posted HUF 37.2 billion surplus in July 2019, the Finance Ministry announced on Friday. The central budget, excluding local government’s, had a shortfall of HUF... 

Average account at Treasury holds almost HUF 6 mn in savings

August 23, 2019, 3:29 pm
The number of client accounts and the size of assets managed have increased greatly at Hungary’s State Treasury in the first six months of 2019. Retail customers keep more than HUF 1,301 billion... 

Hungary forint approaches new 2.5-yr low vs. USD even more

August 23, 2019, 2:17 pm
Hungary’s forint hit a new 12-month low versus the euro and a 2.5-year low against the US dollar on Friday, i.e. its slide continues. The big question is whether Jerome Powell’s speech in the... 

Hungary to invite tenders in more than a dozen EU economic development programmes

August 23, 2019, 9:51 am
In addition to the allocation of economic development EU funds gaining momentum in recent weeks, more than a dozen new calls to tender are expected to be published before the end of the year, Via Credit... 

Hungary Mol raises price of diesel

August 23, 2019, 9:50 am
Hungarian fuels group Mol has lowered the wholesale price of 95-octane petrol by HUF 2 per litre, while it raised the price of diesel by HUF 3 per litre on Friday. The average price of gasoline dropped... 

Where's the rivalry? BMW, Mercedes and Audi to team up - paper

August 22, 2019, 4:20 pm
BMW and Daimler have recently announced that they are to join forces on automated driving, and German weekly business news magazine Wirtschaftswoche has learned that Audi is going to be the third member... 

Swiss fintech startup becomes USD 1 bn unicorn, might set up shop in Hungary too

August 22, 2019, 12:24 pm
A Swiss fintech startup has boosted its value to over one billion U.S. dollars, and all with the help of private investors. It is now preparing to expand outside its market of Germany to the whole of Europe... 

Rating assigned to leading Hungarian construction company, major bond issuance may follow

August 22, 2019, 11:44 am
The National Bank of Hungary (MNB) launched its corporate bond programme in July 2019, in scope of which it is buying bonds issued by Hungarian corporations with rating of at least B+ for up to HUF 300... 

International Campus to build two huge dormitories in Budapest

August 22, 2019, 11:37 am
Global property developer International Campus will enter the Hungarian market with the construction of two large private dormitories in Budapest. The two buildings, to be completed in 2020, will have... 

Hungarian medtech teams could become European success stories

August 22, 2019, 10:04 am
Two Hungarian teams of researchers won EUR 25,000 each at the third annual EIT Health InnoStars Awards startup competition: InSimu Ptient, which develops medical training applications, and Sineko, which... 

EU funding gets Mohács new HUF 680 mn market hall

August 22, 2019, 8:48 am
The city of Mohács, South Hungary has built a HUF 680 million market hall to replace an earlier open-air market, Mayor József Szekó said. There was huge demand for the new building in place of the old... 

Hungary 'superbond' seems unstoppable

August 22, 2019, 8:40 am
Hungary’s Government Debt Management Agency (ÁKK) received 88 billion forints worth of bids from dealers on MÁP+, the extremely popular new retail government security, last week, which matches the... 

May the workforce be with you!

August 22, 2019, 8:22 am
A common solution to the chronic workforce shortage seen in the entire region nowadays is that one company provides labour to another. However, one should be careful with these agreements: depending on... 

BlackRock stake in Hungary's Richter below 5%

August 22, 2019, 8:04 am
Gedeon Richter, Hungary’s leading pharmaceutical producer, has announced that BlackRock’s holding in the company decreased below the 5% threshold. Richter announced on Wednesday that according... 

What types of savings fell victim to Hungary's 'superbond'?

August 21, 2019, 4:07 pm
The instruments that suffered the most due to the spin Hungary’s new retail government bond took households’ investments in the early summer were investment funds, term deposits and life insurances... 

Hungary shows best performance since before IMF bailout

August 21, 2019, 12:11 pm
Hungary’s general government gross debt declined to under 70% of gross domestic production, a level it has not been since before the country had taken out a loan from the International Monetary Fund... 

Hungary postal service prepares for third largest investment ever

August 21, 2019, 11:27 am
Hungary's postal service Magyar Posta is preparing to make an investment worth tens of billions of forints in package processing, the daily Világgazdaság reported. The investment, which could be the new... 

Fitch: Prospects of euro adoption in Hungary in foreseeable future remain remote

August 21, 2019, 10:15 am
Euro adoption in central and eastern European (CEE) countries would be positive for their sovereign creditworthiness, Fitch Ratings says in a new report. It added, though, that the prospects of euro adoption... 

Hungary glowing red in Europe's growth map

August 21, 2019, 9:58 am
Last week, EU member states have posted their latest GDP growth data, which revealed that growth was highest in Hungary both on a quarterly and annual basis. We have made a map to show where growth was... 

Hungary June construction growth highest in EU

August 21, 2019, 9:00 am
In June, seasonally adjusted production in the construction sector remained unchanged in the euro area (EA19) compared with May and decreased by 0.3% in the EU28, according to first estimates from Eurostat... 
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