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Hungary
Bank Taxes: RZB Records Costs of € 168m
For Austrian RZB (Raiffeisen Zentralbank), bank taxes in Austria, Hungary and Slovakia come at € 168m. RZB will not leave Hungary, CEO Rothensteiner says.
December 20, 2012
Bank Austria: Poland and Turkey are Most Attractive
According to Bank Austria´s board member Gianni Franco Papa, the performance of CESEE markets is satisfying.
December 19, 2012
Poland and Hungary to Cut Interest Rates Further
Unlike the Czech Republic, Poland and Hungary still have some downward potential. The inflation rate is still below the base rate.
December 19, 2012
Hungary: Earnings Grow by 4.%
In the national economy – at corporations employing at least 5 persons, budgetary and designated non-profit institutions – average gross earnings increased by 4.5% in nominal terms.
December 18, 2012
Hungary Continues Downward Trend
In the third quarter, Hungary´s GDP contracted by 1.5%, OECD says. The whole year will bring similar results.
December 18, 2012
Hungary: Construction Output Increased by 1.4%
In October 2012, construction increased by 1.4% in output year-on-year. Within this, the construction of buildings decreased by 0.3% and that of civil engineering works grew by 2.7%.
December 17, 2012
Hungary: Industrial Production Declines
The volume of industrial production decreased by 1.7% in October.
December 14, 2012
CEE Countries May Join Banking Union
ECB will become the main supervisor for the Eurozone´s banking industry. Non-Eurozone member countries are entitled to opt-in.
December 13, 2012
Hungary: Financial Transaction Tax May Increase
As the tax proceeds are behind the government´s expectations, the controversial tax may increase
December 13, 2012
Hungary Resolves 2013 Budget
Today, Hungary´s Parliament approved the budget for 2013, which contains a number of tax increases. According to critics, the budget will not hold.
December 12, 2012
Hungary: Inflation Grows Further
In November consumer prices increased by 5.2% compared to November 2011.
December 11, 2012
Turkey: „The EU Needs Us“
On the occasion of a visit in Hungary, Turkey´s Minister of European Affairs Egemen Bagis argued that the EU would benefit from Turkey´s accession.
December 11, 2012
CA Immo: New Tenants in Hungary
CA Immo was able to acquire new tenants for some 9,300 sqm office space in five Hungarian office properties over the past six months.
December 10, 2012
Hungary: Recession Deepens
The gross domestic product of Hungary decreased by 1.5% in the third quarter of 2012 compared to the corresponding period of the previous year.
December 7, 2012
Hungary: Tourism Industry Booms
In October, public accommodation establishments saw a 9.1% rise in arrivals.
December 5, 2012
Immofinanz: Major Contract in Budapest
Immofinanz Group announces extension of three leases covering 18,000 sqm at Atrium Park in Budapest.
December 4, 2012
Hungary Considers Reducing Foreign Exchange Reserves
In order to repay loans, the Hungarian government is said to reduce the foreign exchange reserves of MNB (Hungarian National Bank). The government does not need to fear resistance by MNB.
December 1, 2012
Hungary: Foreign Trade Declines
Surplus of HUF 215bn in external trade along with a decreasing turnover in September.
November 30, 2012
Hungary: Small Decrease of Investments
In quarter 3 of 2012 the volume of investments in the national economy was 2.1% lower than one year before.
November 29, 2012
Hungary: Unemployment Remains Stable
In August–October 2012, the official number of unemployed people was 463 thousand resulting in an unemployment rate of 10.5%.
November 28, 2012
CESEE: Russia Has Best Growth Prospects
Next year, Russia is expected to record a GDP growth rate of 3.8%, Vienna Institute of International Economic Studies (wiiw) says.
November 26, 2012
CESEE: Eurozone crisis and Austerity Push Half of the Region into Recession
Export weakness and suppressed domestic demand will push nearly half of the CESEE region into recession this year, including the Czech Republic, Hungary, Slovenia, and nearly all Western Balkan countries.
November 26, 2012
Hungary: Retail Trade Sector Shrinks
Due to the declining real income, sales in the retail trade industry fell by 3.9% compared to 2011.
November 26, 2012
More Hungarians Leave their Country
Especially high-skilled Hungarians tend to emigrate. The labor market conditions in Hungary are often precarious.
November 24, 2012
CESEE: Foreign Trade With Austria Booms
This year, Austrian exports to countries in Central, Eastern and Southeastern Europe are growing substantially.
November 24, 2012
EBRD: CESEE Countries Must Improve Legal Security
The European Bank for Reconstruction and Development underlines that banks need more stable legal systems in Eastern Europe.
November 24, 2012
Hungary: Small Concession for Banking Industry
The banking sector in Hungary is under pressure. The government in Budapest decided to pay back debts of municipalities by the end of the year.
November 24, 2012
S&P Downgrades Hungary
The U.S. rating agency lowers Hungary´s sovereign debt rating from “BB+” to “BB”.
November 23, 2012
OMV to Expand Production
Until 2016, the Austrian gas and oil group intends to enhance the daily production up to 350,000 barrels.
November 22, 2012
RBI Threatens to Leave Hungary
The Austrian Raiffeisen Bank International criticizes the burden for the banking sector in Hungary.
November 22, 2012
Hungary: Real Wages Decline Remarkably
In 2012, real wages went down by 5.3%. This is mainly due to the persistently high inflation rate (6.6%).
November 22, 2012
Hungary: Public Debt Level Declines
Due to the favorable currency development, the public debt level fell slightly.
November 20, 2012
Hungarian Construction Industry Performs Well
In September 2012, construction increased by 6.8% in output year-on-year. The construction of buildings rose by 4.2% and that of civil engineering works grew by 9.4%.
November 20, 2012
Hungary: Gross Earnings Grow Moderately
In the national economy – at corporations employing at least 5 persons, budgetary and designated non-profit institutions – average gross earnings increased by 4.5%.
November 20, 2012
EU Budget: Losses for Poland Will Keep Within Limits
Poland will still be the biggest net contributor. According to Poland´s Prime Minister Donald Tusk, the negotiations prove highly difficult.
November 17, 2012
Hungary: Next Austerity Package Resolved
The Hungarian government is caught between the need to lower the budget deficit and to support economic growth.
November 17, 2012
Hungary: Decrease in Industrial Production Continues
In September 2012, industrial gross output declined by 3.8% in volume compared to the same month of 2011.
November 16, 2012
Hungary´s Recession Goes On
In the third quarter of 2012, Hungary´s GDP was down by 1.5%.
November 15, 2012
Immofinanz: Major Success in Hungary
The Austrian real estate company concludes one of the biggest logistics leasing transactions of the year in Hungary.
November 15, 2012
CESEE: Massive Capital Outflow
In the second half of 2011 and in the first half of 2012, foreign banks withdrew about € 55bn from the region.
November 14, 2012
Hungary: Inflation Remains on a High Level
In October consumer prices increased by 6.0% compared to October 2011. From September to October 2012, prices were up by 0.1%
November 13, 2012
Hungary: Head of Banking Association Resigns
The chairman of the Hungarian Banking Association Mihaly Patai steps down. He explains that the Hungarian state overburdens the banking sector.
November 13, 2012
South Stream Pipeline: Construction Works to Begin in December
The pipeline projects of Russia´s gas group Gazprom makes substantial progress. Europe´s dependence on Russia is growing further.
November 12, 2012
CESEE: Lending Shrinks
Foreign banks reduce lending in Central, Eastern and Southeastern Europe. Hungary and Southeastern Europe are most affected.
November 12, 2012
Hungary´s Budget Deficit Below 3.0%
The EU Commission estimates that Hungary´s budget deficit will comply with the Maastricht Criteria in 2012 and 2013. However, the deficit may exceed the 3.0% threshold in 2014.
November 8, 2012
Hungary: Foreign Trade Declines
External trade in goods, preliminary results, January–September 2012: Balance of external trade shows surplus of HUF 211 billion.
November 8, 2012
CEE Deleveraging Remains Moderate
Austrian, German and Italian banks kept lending to CEE6 (except Hungary) relatively stable. Shifts in foreign capital structure and allocation from private to public sector might pose risks to future growth.
November 8, 2012
Consumer Confidence Declining
In Hungary and Bulgaria, the economic sentiment is declining.
November 6, 2012
Croatia Does not Participate in South Stream Pipeline
The Russian gas pipeline South Stream will not run across Croatia. Initially, Croatia was viewed as transit country.
November 5, 2012
Hungary: New Threats for Banks
The Hungarian government plans to take over debts from small municipalities. Banks fear that the Hungarian state demands a debt relief.
November 5, 2012
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