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In addition to the cultural loss, the lack of festivals will cause the state treasury to lose at least HUF 80 billion in revenue this year, said István Márta, President of the Hungarian Festival Association (MFSZ) told Világgazdaság.
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A pro-government pundit regards the Forint as the cornerstone of Hungary’s political and economic independence, and predicts that the Hungarian currency will outlast the Euro.
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In May 2020, average gross earnings amounted to HUF 398,800, 9.4% higher than a year earlier, but slightly lower than in April 2020 (HUF 400,200), according to data released by the Central Statistical Office (KSH).
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The economy picked up slightly in June, but GDP may still decline by 10% year-on-year in the second quarter and shrink by 5% in the second half of the year, exceeding the previously expected, now optimistic 3% forecast, Minister of Finance Mihály Varga told Kossuth Rádió last week.
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The National Bank of Hungary (MNB) has published the latest cash flow data, according to which the cash stock in Hungary had risen by the end of June to HUF 6.965 trillion, writes novekedes.hu.
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"The Eastern European countries have learned the EU negotiating game – and PM Orbán has become quite good at this," one political analyst told Euronews.
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