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The GDP of Hungary could fall by 6.4% this year and economic trends could start to change from the second quarter of 2021 with a vaccine against the coronavirus possibly available by that time, Finance Minister Mihály Varga said at an annual hearing before a parliamentary committee.
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Parliament unanimously approved legislation to extend a moratorium on loan repayments, but only for vulnerable borrowers.
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The Monetary Council of the National Bank of Hungary (NBH) decided to leave the central bank base rate unchanged, at 0.60%, at a monthly policy meeting.
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The Hungarian currency shed 2% of its value against the euro this week due to fears of the economic impact of the second wave of the pandemic, HVG reports.
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The Budapest Stock Exchange has awarded chairman and CEO of OTP bank Sándor Csányi for his achievement in heading the largest bank in Hungary, BSE chairman Mihály Patai announced as the 25th anniversary of the listing of the share was celebrated on Wednesday.
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The forint exchange rate is hovering only 1% above its all-time weakest position of Ft 369.5 to the euro, reached in the spring, Portfolio observed.
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