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Lázár Describes Administrative Shakeups

August 25. 2016.

bbj.hu

The Hungarian State Treasury will become the only central agency responsible for payments of state support and public benefits, Cabinet Chief János Lázár said today, as he described changes in administration that would reduce the government workforce. More...

Hungarian Bank Profits Leap As Provisions Plunge

August 24. 2016.

Reuters

Hungarian banks posted pretax profits of 360.1 billion forints ($1.31 billion) in the first half of this year, up 131 percent on the same period of 2015, and their capital standing also improved, the National Bank of Hungary said on Wednesday. More...

Hungary Tax Authority To View All Invoicing Real-time From Next July

August 23. 2016.

portfolio.hu

Hungary's national tax authority NAV is busy preparing for next July, when all invoicing of companies will be hooked up to the NAV's systems, the daily Magyar Idők reported. More...

 

GKI: Consumer, Business Confidence Hit Lows For The Year

August 22. 2016.

bbj.hu / MTI

Business and consumer confidence declined to a new low for the year, according to a study by economic research institute, GKI, Hungarian news agency MTI reported today. More...

Hungary Plans Further Cuts To Household Energy Prices

August 18. 2016.

EurActive  with Reuters

Hungary’s government is looking for ways to continue a household energy price cut programme, Development Minister Miklós Seszták told the weekly Figyelő in an interview published today (18 August). The energy price cuts, which have cut more than 20% off natural gas and electricity bills in recent years, contributed greatly to a repeat two-thirds victory for the Fidesz party at the last election, in 2014. More...

Hungary Offers World-Class Mobile Internet Speed, Research Finds

August 25. 2016.

portfolio.hu

Hungary's mobile internet infrastructure is among the best in the world - precisely, based on the speed it offers it is ranked third-fastest behind South Korea and Singapore, according to OpenSignal research. On the other hand, 3G/4G coverage is not quite so spectacular - the country finished at the 46th place based on the latter, which suggests there is still room for improvement. More...

Hungary CenBank To Government: "Keep Spending!"

August 24. 2016.

portfolio.hu

The National Bank of Hungary has officially announced what analysts could only suspect until now: that it is encouraging the government - more exactly, the Economy Ministry which is in charge of the budget - to keep up spending 2016 budget funds as there is still room for manoeuvre. With that, the central bank has joined the club of expert opinions that there is still room for expenditure in this year's budget. More...

Hungary Jan-July Budget Deficit Record Low

August 22. 2016.

portfolio.hu

Hungary's current account deficit was HUF 62.7 billion in July, less than a year earlier, partly because spending fell more than revenue in July, the Ministry for National Economy (NGM) announced today. The main differences compared to last year were in EU-related and interest expenditure. More...

Wage Growth Remains High In Hungary In June

August 19. 2016.

portfolio.hu

High wage dynamics recorded earlier in 2016 remained intact in June, and net real wages grew 7.5% year on year. Without wage hikes in the public sector, exclusively in the business sector real wages rose 6.8%. More...

IEER Monthly Bulletin of Economic Trends - 2016 July

August 18. 2016.

Two extremely interesting analyses are contained in this month's Bulletin. The first examined the experiences of late payment and debt queues of domestic enterprises and found that 81% of businesses had at least one business partner that paid late in 2015, while 45% of respondents themselves owed to their suppliers at least once in the period under review. The highest proportion of late payments was among small businesses and the construction sector. The second analysis describes the potential effects of Brexit on Hungary in the medium term. Read the full Bulletin here.