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S+P Global Ratings affirmed Hungary’s ‘BBB’ sovereign rating with a stable outlook at a scheduled review. S+P’s analysts projected Hungary’s economy would grow 6.1% this year and 5.3% in 2022, acknowledging the country’s effective vaccination rollout and fiscal stimulus.
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The head of the State Audit Office, in an article published by the daily Magyar Nemzet, said ideally personal income tax should be scrapped altogether, arguing that it was a burden on work and generally perceived as a "punishment".
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Hungarian inflation was an annual 4.6% in July, after 5.3% in June, the Central Statistical Office (KSH) said on Tuesday.
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Hungary’s cash flow-based budget deficit, excluding local councils, reached 1,803.7 billion forints (EUR 5.09bn) at the end of July, widening on stimulus measures, the Finance Ministry said in a preliminary release of data on Monday.
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A left-wing commentator disagrees with the National Bank governor, who does not consider as timely the adoption of the common European currency.
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The forint has been crucial to Hungary’s economic turnaround and management of the coronavirus crisis, György Matolcsy, the governor of Hungary’s central bank (NBH), said in an article published in the daily Magyar Nemzet.
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