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Hungary had a 1.07 billion euro trade surplus in June 2018, the Central Statistical Office (KSH) said in a first reading of data. The surplus was up by 119 million euros from the same month a year earlier.
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The Hungarian Central Statistical Office (KSH) says the CPI grew in Hungary by an annual 3.4% this July.
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With consumer inflation data is due to be published on Wednesday by the statistical office, analysts forecasting it at between 3.1-3.3%. The central bank expects a sovereign rating upgrade soon.
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Hungary is due for another upgrade of its sovereign rating, which could take place as soon as next week, when a review by Standard & Poor’s is scheduled, National Bank of Hungary (NBH) deputy governor Márton Nagy said.
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The International Monetary Fund (IMF) recommended Hungary do more to reduce state debt as well as phase out sectoral taxes and undertake structural reforms to improve productivity in a staff report issued about six weeks after a visit to Budapest as part of regular Article IV consultations.
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The introduction of mandatory electronic invoicing could raise budget revenue by “tens or even hundreds of billions” of forints, finance ministry state secretary András Tállai said in an interview published in Tuesday’s issue of daily Magyar Idők.
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