Hungary GDP Falls 3.6% in Q4, 5% in Full Year
Hungary’s economy shrank by an annual 3.6% in the fourth quarter of 2020, slowing from a 4.6% decline in Q3, the Central Statistical Office (KSH) said.
Economy
Autoflex-Knott Gets State Grants for Upgrade in Hungary, Expansion in US
The government is awarding Autoflex-Knott, which makes parts for trailers, grant money to support an upgrade of its plant in Kecskemét, in central Hungary, and to set up a manufacturing base in the United States, Péter Szijjártó, the minister of foreign affairs and trade, said.
Investment Growth Returns in Q4
Investment volume in Hungary rose by an annual 2.5% in the fourth quarter of last year, after three consecutive quarters of declines, supported by public sector and household investments, data released by the Central Statistical Office (KSH) show.
Hungary Development in Uganda Enters Final Phase
Hungarian companies are about to complete the development of a security system in Uganda, the largest Hungarian development project abroad, the minister of foreign affairs and trade said.
Stellantis to Upgrade Engine Plant in Western Hungary
Car manufacturing conglomerate Stellantis will upgrade its plant manufacturing petrol engines in Szentgotthárd, in southwest Hungary, Péter Szijjártó, the minister of foreign affairs and trade.
Rolling Jobless Rate 4.3% in November-January
Hungary’s three-month rolling average jobless rate averaged 4.3% in the Nov-Jan period, up by 0.2 percentage point from the previous month, the Central Statistical Office (KSH) said on Friday.
Wage Growth Up 10.6% in December
Wage growth in Hungary was up at an annual 10.6% in December, up from 8.6% in the previous month, the Central Statistical Office (KSH) said.
LMP Proposes Parliament Session on Use of EU Funding
The opposition LMP, with the backing of the other opposition parties, is proposing a parliamentary session on the use of Hungary’s share of the European Union’s development and crisis management fund, which comes to 18,500 billion forints (EUR 51.5bn) in the 2021-2027 financial framework.
Budget for Supporting SME Green Investments Upped to HuF 50 BN
The government is increasing the budget for subsidising green investments made by SMEs by 20 billion forints (EUR 56m) to almost 50 billion, Mihály Varga, the finance minister, said. In the previous round of the tender, more than 1,800 companies received nearly 28 billion forints in development funding, and another 2,000 companies may benefit in […]
Socialists Launch Consultation on EU Recovery Funds
The Socialists are launching a consultation with trade unions on the use of the European Union’s coronavirus recovery fund, an MEP of the opposition party said.