Official: Brexit to have minimal impact on Hungarian economy
The impact of the United Kingdomʼs departure from the European Union could be minimal as the countryʼs fundamentals are stable, National Economy Ministry State Secretary Péter Benő Banai said today on state-owned Kossuth radio, according to Hungarian news agency MTI.
The professional consensus is unchanged: Hungaryʼs economic growth rate is expected to exceed the EU average in the coming period, Banai said.
The impact on Hungary of the U.K.ʼs vote to leave the EU was smaller than on other countries in Europe, he said. The forint weakened, but not as much as the Polish zloty or other currencies in the region, he added.
Banai noted that the share price of OTP Bank, Hungaryʼs largest commercial lender, also weakened less than those of its European peers after the referendum.
OTPʼs share price lost 7.46% on Friday and 2.29% on Monday, but it was up about 2.82% around 1:00 pm today.
Fuel Prices Move Closer to Avg of Neighboring Countries
Hungary, China to Sign Agreements During Visit by President
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
