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A left-wing columnist accuses the government of overspending ahead of the 2022 April election. A conservative economist, on the other hand, finds the government’s economic path sound and reasonable.
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Hungarian central bank rate-setters hiked the base rate by 30 basis points to 2.40% at a regular policy meeting on Tuesday.
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The government is making 230 billion forints (EUR 627m) of European Union and state funding available for projects in underdeveloped localities, the finance minister said on Wednesday.
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Consumer prices in Hungary grew by an annual 7.4% in November, after hitting 6.5% in October, the Central Statistical Office (KSH) said on Wednesday.
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Hungarian economic output increased by an annual 6.1% in the third quarter, down from 17.8% in the previous quarter, the Central Statistical Office (KSH) said Wednesday, confirming its preliminary data.
More >>Mihály Varga, the finance minister, in an op-ed published on Tuesday, said fiscal policy and wages only had a mild effect on inflation and the current account, and external factors were more at play. In his article in the business daily Világgazdaság, Varga said the jump in energy prices, raw materials and transport costs, as well as the re-pricing amid the post-pandemic economy — services in particular — was largely behind the 6.5% headline inflation.
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