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This year is a black year in the economic history of Hungary but government policy mistakes also contributed to the recession, MNB governor György Matolcsy declared in an online press conference held after the monetary council meeting on Tuesday.
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News that Hungary and Poland agreed to proposals by the German EU presidency on averting a veto of the EU budget by the two countries lifted share prices on the Budapest Stock Exchange.
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The Budapest municipality has prepared and submitted its 2021 “budget of survival”, designed to face “the challenges all local governments are grappling with”, Mayor Gergely Karácsony said.
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As Transferwise has joined Hungary’s instant money transfer system, its transaction costs have dropped by about half from the earlier average fee of Ft 208 per transfer, founder and CEO Kristo Käärmann said on Tuesday.
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Hungary’s inflation rate was 2.7% in November, below the National Bank of Hungary’s 3% medium-term target, the Central Statistical Office (KSH) said on Tuesday.
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Prime Minister Viktor Orbán saw for Hungary and Poland a good chance of victory in the ongoing debate about the EU budget and on linking funding to "rule-of-law conditions", if "things are developing in the right direction" in the next few days.
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