PM: Hungary to Maintain Work-Based Economy
Hungary will resist falling into the trap of introducing blanket welfare measures during the novel coronavirus epidemic, the prime minister said.
Economy
Hungary Revises 2020 Deficit Target to 2.9% of GDP
Hungary now targets its 2020 budget deficit, calculated according to the European Union’s accrual-based accounting standards, at 2.9% of GDP, according to a report submitted by the Central Statistical Office (KSH) to Eurostat
Forint strengthens from historic low after NBH tender announcement
The forint started strengthening after a historic low on Wednesday following the central bank’s announcement of a tender for one-week deposits.
Budget deficit 2%
Hungary’s budget ran a 958 billion forint (EUR 2.7bn) deficit last year, equivalent to 2% of GDP, the Central Statistical Office (KSH) said.
January trade surplus revised down to EUR 423 million
Hungary’s trade surplus for January was revised down to 423 million euros in a second reading of data released by the Central Statistical Office (KSH).
PMI plunges to 29.1
Hungary’s seasonally-adjusted Purchasing Managers Index (PMI) plummeted to 29.1 points in March from 50.3 in February, showing the impact of the coronavirus pandemic, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which compiles the index, said.
Hungarian wages grow 9.2% in January
Wage growth for full-time workers in Hungary rose by an annual 9.2% in January, the Central Statistical Office (KSH) said. The average gross monthly wage came to 375,200 forints (EUR 1,050) in January. Net wages also grew by 9.2%, to 249,500 forints.
PPI steady at 3.8% in February
Hungary’s industrial producer price index increased by an annual 3.8% in February, the same rate as the preceding month, the Central Statistical Office (KSH) said.
Government Has Spent HuF 225 BN on Epidemic Response So Far
The government has so far spent 225 billion forints (EUR 630.3m) on buying protective equipment, building a container hospital and making other preparations in connection with the novel coronavirus epidemic, Prime Minister Viktor Orbán said in parliament.
ECB asks banks not to pay dividends until at least October 2020
ECB asks banks not to pay dividends or buy back shares during COVID-19 pandemic Recommendation concerns dividends for 2019 and 2020, at least until 1 October 2020 ECB expects banks to keep funding households, small businesses and corporations The European Central Bank (ECB) today updated its recommendation to banks on dividend distributions. To boost banks’ […]