Magyar English News (RSS 2.0)

German Investors' View on Hungary Improves; Predictability Still an Issue

April 18. 2014.

WSJ / By Veronika Gulyás

In its annual survey of Hungary's economy, the German Chamber of Commerce said Wednesday that investors' confidence in Hungary increased compared with last year but it still needs to improve the predictability of its economy policy. To WSJ's article - To the Chamber's survey (in German)

Hungary’s Central Bank Seizes Bold Strategies

April 18. 2014.

New York Times

...Having previously served as economics minister, Mr. Matolcsy is the financial architect of the populist and autocratic Fidesz party, which consolidated its power in elections this past Sunday. The government, led by Prime Minister Viktor Orban, has promoted the nation’s improving economic outlook, falling unemployment rate and easing deficit. More...

More Advertisements Mean More Waste In Hungary

April 15. 2014.

Hungarian environmentalists are worried about the growing number of advertisements. After a couple of years of stability, advertisement consumption has increased again over the past year in Hungary. However, compared to global tendencies, Hungary’s advertisement market is still behind more developed countries. More...

IEER Monthly Bulletin of Economic Trends - March 2014

April 14. 2014.

This month the main feature of the Bulletin is a survey about the beginning of the labour market career of skilled entrants. The index shows that making the right choice of skills that meets the personal interests of the student improves the career prospects of qualified vocational school graduates. In addition, good academic results, the knowledge of foreign languages and matriculation also helps skilled young people to succeed in the labour market. 

In the "Macroeconomic trends" section, the Bulletin analyzes the impact of the Ukraininan ciris on the forint exchange rate.

Download the full report.

Hungary OTP-MKB merger can make Orbán's dream come true - Morgan Stanley

April 11. 2014.

Hungary’s new-old government will still want to increase local ownership in the banking sector, analysts at Morgan Stanely said on Friday. In a research note on the Hungarian banking sector, they also said a hypothetical merger of OTP and MKB could add 7-11% to OTP’s pre-provision profit profit, but but would not contribute positively to net income without a return to pre-crisis risk costs and a significant reduction in the bank levy. More...

Picture Of The Day: Pancho Arena To Open Next Monday

April 18. 2014.

The stadium’s name - Pancho Aréna - comes from the Spanish nickname for legendary footballer Ferenc Puskás. PM Viktor Orbán grew up in the village and has a home next to the stadium. The 3,500 capacity arena was designed by architect Imre Makovecz. Construction cost HUF 3.8 billion (Photo: Kecskemét Online).

Brussels Moves Forward With Infringement Procedures Against Hungary

April 17. 2014. / MTI

The European Commission on Wednesday said it has taken three infringement procedures against Hungary to the next level. The procedures concern antitrust law for the farm sector, excise duties on spirits and trade of tobacco products. More...


Hungary Manufacturing Driven By A Single But Powerful Engine

April 14. 2014.

Hungary's industrial output was 8.1% higher in February than a year earlier, the Central Statistics Office reported. Month-on-month growth was 1.6%. The figures are identical with those released in a preliminary report last week. Similarly to the January report, the detailed statistics highlight significant growth in the automotive industry and automotive suppliers, traditionally a main driver of expansion in Hungary's manufacturing sector. To sum up, the structure of growth remains disparate, and new orders are not suggestive that this might change anytime in the next few months.

Latest Statistical Report: Inflation, Consumer Prices

April 11. 2014.

Central Statistical Office

In March consumer prices increased by 0.1% compared to March 2013. During this period beside the decreased prices of electricity, gas and other fuels, as well as motor fuels, clothing and footwear, consumer durable goods, price rise was observed in case of alcoholic beverages and tobacco as well as services. Read the full report here.  - Follow Hungary's vital statistics with regular updates here.


Hungary Infringes EU Law By Exempting Small-Scale Spirits Production From Excise Duty

April 11. 2014.

In exempting the private production of small quantities of spirits from excise duty, Hungary has infringed EU law, the European Court of Justice has ruled on Thursday. Where spirits manufactured by a distillery from fruit supplied by fruit growers are for the personal use of the latter, Hungary must apply the minimum rate of excise duty provided for by EU legislation, it added. More...