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Spending on recreation and culture accounts for about 7.2% of the total expenditure of Hungarian households, a relatively low level compared to other countries in the region, data compiled by EU statistical body Eurostat shows.
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Responding to the World Bank’s latest report forecasting the rate of Hungarian economic growth in 2018 at 4.6%, 0.5 of a percentage point higher than its June projection, the finance ministry said all major international organisations had upgraded their growth estimates for Hungary.
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Hungary posted a 496 million euro trade surplus in November, down by 186 million from the same month a year earlier, the Central Statistical Office (KSH) said in a first reading of data.
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Hungary’s comprehensive online invoicing system has been operating seamlessly since its introduction in July 2018 and has contributed to a 403 billion forint jump (EUR 1.3bn) in VAT revenue year on year, Finance Minister Mihály Varga said.
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Banks began testing a new instant money transfer system on January 2, the central clearing house Giro announced yesterday.
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The minimum wage in Hungary will increase by 8% on Jan. 1, the finance minister said. The wage will go up by another 8 % a year later, Mihály Varga told a press conference after a two-year agreement was reached at talks in the permanent conference of employer, employee, and government representatives (VKF).
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