Legislative proposals pertaining to both judicial reform and overtime rules were passed in todayʼs parliamentary session in Budapest, among other proposals, despite a number of obstruction efforts by opposition MPs in Parliament, with some calling the legitimacy of the votes into question due to procedural irregularities.
Consumer prices were 3.1% higher on average in November 2018 than a year earlier, slowing from 3.8% year-on-year in October, according to monthly data from the Central Statistical Office (KSH). The headline figure showed a decline after accelerating for eight months, and was lower than the consensus expectation of analysts.
The National Bank of Hungary kept the base rate at 0.9% at its latest rate setting meeting. But more importantly, it revealed moves to simplify and fine-tune its set of policy instruments. Analysts say that it might signal the start of a tightening cycle in the longer run. In the short-term, however, the central bank is expected to stick to its dovish stance.
The last four years has seen a 25% rise in the number of individual entrepreneurs in Hungary, with almost every tenth Hungarian working as one, prompting a rapid growth in the number of coworking offices in line with global trends, according to a press release sent to the Budapest Business Journal.
In 2017, there were 1.88 million people in Hungary who were classed as either poor or at risk of social exclusion, some 19.6% of the entire population, shows the latest summary of household living standards data published by the Central Statistical Office (KSH). The figure dropped by 6.0 percentage points compared to 2016.