Hungary Budget Deficit Swells to Around 9 % / GDP in 2020
Hungary’s cash flow-based budget deficit, excluding local councils, was 5,548.6 billion forints (EUR 15.5bn) at the end of 2020, the Finance Ministry confirmed in a detailed reading of data.
Economy
Gas Contract With Russia Expanded
Hungarian Foreign Minister Peter Szijjártó told MTI that Hungary and Russia have agreed to extend a long-term gas supply contract set to expire in October this year.
Employers, Unions Close to Compromise on Minimum Wage Rise
The VKF, a forum of employers, unions and the government, moved close to a compromise on a minimum wage rise at a meeting on Wednesday after a weeks-long deadlock.
Supply Chain Pressure Affects Audi and Daimler Plants in Hungary
A global parts shortage is affecting the Hungarian plants of German car makers Audi and Daimler, business daily Világgazdaság said.
People in Szabolcs Earn the Least
According to the information of GKI Gazdaságkutató Zrt., in 14 out of the 19 counties of Hungary the monthly net earnings were below the national average, which – according to the data of the tax authority – was HuF 295 thousand gross in 2019.
Government Announces HuF 10.4BN Tender for Construction Company Upgrades
The government is inviting applications for 10.4 billion forints (EUR 28.8m) in grant money to support technology upgrades and efficiency improvements at microbusinesses and SMEs in the construction sector, state secretary Attila Steiner said.
German Firms to Invest HuF 4 BN Hungary
Three major German companies have decided to plough a total of 4 billion forints (EUR 11.1m) into investments in Hungary, Péter Szijjártó, Hungary’s minister of foreign affairs and trade, said.
HuF 2 BN Given to Pandemic Fight
The government has purchased medical equipment worth a combined 2 billion forints (EUR 5.5m) under the Healthy Budapest Programme, aimed at helping efforts to fight the coronavirus epidemic, Human Resources Minister Miklós Kásler told an online press conference.
Socialists: Government ‘Supports Multinationals Instead of Protecting Jobs’
The opposition Socialists believe the government is “throwing free money” at multinational companies instead of defending workplaces under threat because of the coronavirus crisis, the party’s deputy head said at an online press conference on Sunday.
Guest Nights Fall 85% in November
The number of guest nights spent in Hungarian commercial accommodation fell by an annual 85% to 313,000 in November as the pandemic continued to impact the tourism industry, data released by the Central Statistical Office (KSH) show.