The debt of the central government increased by HUF 2,557 billion to HUF 63,096 billion by the end of May from the end of 2025, the Government Debt Management Agency (ÁKK) said in a monthly report on Wednesday. Quoting from the report, MTI says net forint issuance, financing the deficit of the central government budget, […]

In the first five months of the year the credit institution sector reported an after-tax profit of HUF 485 billion, down by 19% compared to the same period a year earlier, preliminary data released by the National Bank of Hungary (NBH) on Wednesday shows. Interest revenue was up 11% at HUF 2,733 billion while interest […]

The Euclid space telescope has mapped over 60 million stars in the heart of the Milky Way, with Hungarian researchers playing a key role in the survey, the HUN-REN CSFK Konkoly Thege Miklós Astronomical Institute said on Wednesday, MTI reports. The mission's data extends beyond cosmology, András Kovács, a researcher at HUN-REN's Konkoly Thege Miklós […]

The Hungarian capital will host its first street music festival, Budapest Play, at ten venues between July 30 and August 1 as well as between August 6 and 8, financed by the capital. At a press conference on Tuesday, the city's mayor, Gergely Karácsony, said that "music is a universal language that we should all […]

The Monetary Council of the National Bank of Hungary (MNB) decided to cut the central bank base rate by 25 basis points to 6.00% at a monthly policy meeting on Tuesday. As MTI reports, the Council also lowered the overnight deposit rate by 25 basis points to 5.00% and the O/N collateralized loan rate by […]

Hungarian Parliament passed legislative amendments on Tuesday to scrap motor fuel price caps. The amendments to the acts on the establishment of prices and the security stockpiling of imported crude oil and petroleum products were passed with 130 votes in favor, 36 votes against and five abstentions. Minister of Economy and Energy István Kapitány, the […]

A gauge of sentiment in Hungary's tourism sector stood at -6 in June, on a scale of -100 to +100, improving during the month and reaching one point higher than a year before, economic research institute GKI, and the Hungarian Hospitality Employers' Association (VIMOSZ) said. Among the subindices, the accommodation index was up 2 points […]

Oremus Winery’s 2016 6-puttonyos Tokaji Aszú was named one of the top fifty ‘Best in Show’ wines at this year’s Decanter World Wine Awards (DWWA), considered one of the world’s most prestigious wine competitions. This year marked the 23rd edition of the Decanter World Wine Awards in London. This year, nearly 17,000 entries from 58 […]

At the end of May, Hungary's cash-flow based general government deficit reached HUF 3,806.3 billion, 90.2% of the full-year target, a detailed report released by the Finance Ministry on Monday shows. As MTI reports, the central budget deficit reached HUF 3,694.8 billion and the social security funds were HUF 182.4 billion in the red, but […]

Hungary is committed to adopting the euro and has undertaken to meet the Maastricht criteria by 2030, Finance Minister András Kármán said on a social media site on Monday. The minister said he will meet Kyriakos Pierrakakis, President of the Eurogroup, along with Prime Minister Péter Magyar in Budapest on Friday. András Kármán first held […]

Amid rising trading volume, the Budapest Stock Exchange (BSE) stock index, the BUX, rose this week, closing at 137,625.54 points on Friday – up 1.40%, or 1,900.86 points, from the previous week’s closing level. Weekly trading volume on the stock market was HUF 155.1 billion, up from HUF 101.9 billion the previous week; leading stocks […]

According to K&H Bank’s ‘Secure Future’ survey, the proportion of middle-aged people who are most financially vulnerable has fallen to a historic low in Hungary, and Hungarians’ financial resilience has improved significantly over the past year, the bank said in a statement sent to MTI on Sunday. Last year, 42% of the population would have […]

The significant appreciation of the Hungarian currency, the forint by more than 10%, which began after the April parliamentary elections, poses a serious challenge to the Hungarian hotel industry: while the euro was trading above HUF 400 last summer, the exchange rate is now hovering around HUF 350. Executives at both Danubius Hotels and Hunguest […]

Industries based on design are particularly vulnerable to counterfeiting: according to estimates, the fashion and apparel sector suffers annual losses of EUR 12 billion due to counterfeiting, while the handbag and jewelry sectors suffer losses of EUR 2.7 billion. In Hungary alone, counterfeit goods cause more than EUR 160 million in losses in design-based industries, […]

The national heat record in Hungary for June 20 was broken on Saturday at 37.1 degrees Celsius according to preliminary data, the weather service HungaroMet said on its sociuial media page. A temperature of 37.1 degrees Celsius was recorded in Aszód, near Budapest, on Saturday afternoon, the weather service said. They added that this also […]

Low-cost carrier Wizz Air will operate 1,200 flights a day across its entire network in the summer season, the company said in a statement. Wizz Air will add 15 new flights and 19 new aircraft, with capacity rising close to 3m this summer, up 30% from a year earlier. Based on the experience of recent […]