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The Hungarian State Treasury has granted the capital a temporary reprieve from its solidarity contribution payments until mid-June. This decision provides Budapest with much-needed short-term financial breathing room as it continues to navigate a protracted dispute regarding the levy.
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The Monetary Council of the National Bank of Hungary (NBH) voted unanimously to keep the central bank's base rate on hold at 6.25pc at a meeting in March, minutes released on Wednesday show.
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The International Monetary Fund (IMF) projects Hungary's GDP growth will reach 1.7pc in 2026 in its latest World Economic Outlook released on Tuesday.
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Fitch Ratings said Hungary's incoming government faces "significant macroeconomic and public finances challenges" due to low growth, a large fiscal deficit, and high and rising government debt in a note on Monday.
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The forint firmed to a four-year high against the euro on Monday, after a landslide election victory by the Tisza Party. The forint traded at 363.12 to the euro around 5:00 in the evening on Monday, advancing from 375.13 late Friday.
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Visitors to Budapest may currently find a small piece of Hungarian history in their pockets, arriving as simple change from a coffee or a tram ticket. The Magyar Nemzeti Bank (MNB) has released a special commemorative 50-forint coin into general circulation, marking a significant anniversary for one of the country’s most revered figures.
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