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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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Central bank rate-setters have cut the base rate to 0.60%. The policy makers cut the base rate by 15 basis points for the second month in a row after leaving it unchanged for a little more than four years.
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Council of Europe Development Bank (CEB) is supporting Hungary’s coronavirus protection efforts with 175 million euros to fund the procurement of ICU beds, protective gear, tests and disinfectants, Finance Minister Mihály Varga said.
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President János Áder signed the law establishing the state budget that also amends the rules governing the Itemised Tax for Small Businesses (KATA) in a bid to crack down on small business tax abusers.
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