Hungary’s GDP grew by an annual 8.2% in the first quarter, albeit from a low base, a first reading of data released by the Central Statistical Office (KSH) shows. Adjusted for calendar year and other effects, GDP rose by 8.0%.
Fiscal and monetary policy will have to be coordinated to bring down inflation, and the government should focus on the spending side to restore balance to the budget, Barnabás Virág, deputy governor of Hungary’s central bank (NBH), told a conference.
Hungary and Poland are calling on the European Commission to make arrangements to ensure that the two countries could receive the allocations they are entitled to from the EU Reconstruction Fund, the new Hungarian president said in Warsaw on Tuesday. Katalin Novák held talks in the Polish capital with her Polish counterpart Andrzej Duda.
The green LMP party on Sunday called for immediate wage compensation and a mid-term pay rise programme for public sector employees because of inflation.
Yesterday, on 14th May, Russia cut off electricity supplies to Finland – in response to the Finns’ announcement of their intention to join NATO on Thursday.
Hungarian construction sector output grew by an annual 10.5% in March, slowing from an increase of 38.5% in the previous month, the Central Statistical Office (KSH) said on Friday.
Hungarian industrial output grew by an annual 3.6% in March, slowing from 4.8% in the previous month, the Central Statistical Office (KSH) said on Friday in a second reading of the data.
A spokesman for the European Commission has confirmed for news channel M1 that the European Union’s executive body is standing by its plan to introduce an embargo on Russian oil.
István Ujhelyi, MEP of the opposition Socialists, has said the government should prepare a new plan to access the European Union’s post-pandemic economic recovery funds.
The European Bank for Reconstruction and Development (EBRD) should focus more on central Europe, especially the countries neighbouring Ukraine, Finance Minister Mihály Varga told MTI on Wednesday, after attending a meeting of the EBRD’s Board of Governors in Marrakesh.