Hungary will resist falling into the trap of introducing blanket welfare measures during the novel coronavirus epidemic, the prime minister said.
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
The forint started strengthening after a historic low on Wednesday following the central bank’s announcement of a tender for one-week deposits.
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.
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).
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.
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.
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.
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 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’ […]