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Hungary’s cash-flow budget deficit was 2,597.5 billion forints (EUR 6.6bn) at the end of April, the finance ministry said on Thursday in a first release of data.
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Hungary’s government projects an economic growth rate of 2.5% for this year and 4.1% in 2025, a state secretary of the finance ministry said.
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The International Monetary Fund (IMF) forecasts the Hungarian economy returning to growth this year and taking its place in the vanguard of the EU’s growth performers next year, Mihály Varga, the finance minister, said on Tuesday, adding that the IMF prognosis echoes that of the latest European Commission projection.
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Hungarian central bank (NBH) rate-setters cut the base rate by 50 basis points to 7.75% at a regular policy meeting. The Council also decided to lower the symmetric interest rate corridor in tandem, bringing the O/N deposit rate to 6.75% and the O/N collateralised loan rate to 8.75%.
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Hungary’s taxes are not to blame for high fuel prices, the finance minister said on Monday, adding that taxes on fuels were among the lowest in the European Union.
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OTP bank will automatically set a daily limit transfer of Ft 1 million for internet and mobile banking transactions for retail customers starting May 8.
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