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Hungary seeks three-year, €15 bln precautionary financing from IMF/EU

Wednesday 07:25, May 16th, 2012

\"We\'re interested in signing an agreement in the shortest time possible, but, realistically, we can count on early autumn,\" Varga told the paper.Read more

Weaker HUF, EUR sales to mortgage repayments give MNB extra HUF 13.6 bln

Monday 12:05, May 14th, 2012

At the same time, the bank reduced operating costs sharply.Read more

Hungary CPI picks up to 5.7% in April

Saturday 04:55, May 12th, 2012

Seasonally-adjusted core inflation fell on the month and rose on the year.Read more

EC forecast puts Hungary deficit under 3% threshold in 2012, 2013

Saturday 04:45, May 12th, 2012

The projection for 2012 is down from 2.8% forecast last autumn.Read more

Government introduces tax bills

Saturday 03:10, May 12th, 2012

If voted in parliament, telecommunications companies should pay a HUF 2 tax per minutes of voice calls and text messages from July.Read more

Hungary debt insurance costs surge on Greece worries

Thursday 07:25, May 10th, 2012

Default insurance costs on Hungary's sovereign debt followed those of both core and periphery eurozone countries to a multi-week high on Wednesday in London, reflecting renewed market fears over Greece's future in the monetary union after the Greek elections last weekend had produced an inconclusive outcome.Read more

Hungary exports drop, imports down slightly yr/yr in March

Thursday 07:25, May 10th, 2012

Hungary's exports fell in March in the second yr/yr drop in a row, bringing Q1 exports down. March imports were practically unchanged in euro terms, preliminary figures published by the Central Statistics Office (KSH) on Wednesday show.Read more

Govt approves new taxes in Széll Kálmán Plan 2.0

Thursday 06:30, May 10th, 2012

Consultations also continues on the introduction of a 30% corporate tax rate for energy companies and utilities in addition to the current two, 10% and 19%, rates.Read more

Govt approves new taxes in Széll Kálmán Plan 2.0

Thursday 06:25, May 10th, 2012

Consultations also continues on the introduction of a 30% corporate tax rate for energy companies and utilities in addition to the current two, 10% and 19%, rates.Read more

Drop in March industrial output could augur GDP fall in Q1

Wednesday 07:40, May 9th, 2012

A drop in industrial output in March could point to an economic contraction for the first quarter, analysts told MTI on Tuesday, after the Central Statistics Office (KSH) published fresh data. Hungary's unadjusted industrial output declined 1.6% in March from the same month a year earlier.Read more

Business chamber head acknowledges progress, but says pace of reform could be faster

Wednesday 07:10, May 9th, 2012

Hungary's government has started structural reforms in the right areas, but the pace of implementation could be speeded up, Hungarian Chamber of Commerce and Industry (MKIK) chairman László Parragh told MTI. Parragh said structural reforms often require the tools of a "front-line medic", adding that Hungary's return to the right path from longtime, deeply faulted systems would not be possible without serious conflicts. He agreed with the government on the necessity of a policy of consolidation in the second half of their term, but noted the risk that restructuring would not be of a sufficient scale.Read more

Parliamentary committee clears amendments to Central Bank Act for general debate

Tuesday 07:05, May 8th, 2012

The audit and budget committee of the Hungarian parliament cleared amendments to Hungary's Central Bank Act and a related constitutional amendment for general debate at a meeting on Monday. General debate on the amendments is due on Tuesday.Read more

State secretary would see €15 billion three-year precautionary assistance from IMF

Tuesday 06:35, May 8th, 2012

Mihály Varga attributes the current delay in the start of official talks on the financial assistance to the need of consultations between the IMF and the European Commission on the exact conditions for the launch of the talks.Read more

Dispute with EU rooted in changed philosophy, says Orbán

Monday 07:25, May 7th, 2012

Disputed issues between Hungary and the European Union have mostly arisen from Hungary's changing not only its government but its philosophy two years ago, Prime Minister Viktor Orbán said in Kazakhstan on Friday.Read more

Hungary trade surplus widens in February, terms of trade worsen

Friday 07:25, May 4th, 2012

Hungary had a €691.2 million trade surplus in February, practically unchanged from a €690.1 million preliminary surplus reported on April 6, the Central Statistics Office (KSH) said in a second reading on Thursday. Terms of trade worsened as export rose in volume but fell in euros while imports volume and value rose at a similar pace.Read more