Finance

Debt

Polish State Treasury debt up in December

The Polish State Treasury debt at the end of December reached PLN 1.09 trillion (EUR 242.6 billion), up by PLN...

Debt

2020 gen gov’t deficit swells to nearly HUF 5.549 tln on pandemic defense, stimulus

Hungary's cash flow-based general government deficit, excluding local councils, reached almost HUF 5.549 trillion at the end of last year,...

Banking

Nagy: Economic growth ‘could reach 6%’ in 2021

This year, economic growth could reach up to 6%, and next year 6-7% can not be ruled out, and with...

Trade

Albania trade gap narrows 10% in 2020

Albania's trade deficit decreased by 9.9% year-on-year in 2020, to ALL 333 billion (EUR 2.7 billion), the statistics office said...

Debt

ÁKK sells HUF 42.5 bln of securities at auction, over plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 42.5 billion of securities at auction on Wednesday, cutting its...

Debt

ÁKK sells HUF 11 bln of 3-month T-bills at auction, under plan

The Government Debt Management Agency (ÁKK) sold HUF 11 billion of discount three-month T-bills at auction on Tuesday, HUF 4...

MNB

MNB weekly QE purchases stand at HUF 50 bln

The National Bank of Hungary (MNB) bought HUF 50 billion of securities in the framework of a quantitative easing program...

Debt

Romania external debt up in Jan-Nov

Romania's total external debt, public and private, increased by EUR 10.2 billion in the first 11 months of 2020 to...

Banking

Watchdog clears buyout offer for Takarék Mortgage Bank

The National Bank of Hungary (MNB) has approved a mandatory public purchase offer by MTB Magyar Takarékszövetkezeti Bank, the "central...

Banking

Banking sector forint liquidity climbs in December

Forint liquidity of the Hungarian banking sector continued to climb in December, reflected by increases in the average stock of...

Banking

Domestic ownership in OTP Bank grows

Domestic ownership in OTP Bank, Hungary's biggest commercial lender, increased last year, state news wire MTI reports, citing a disclosure...

Ratings

Fitch: Hungary’s GDP to grow 7% in 2022

The European Union's recovery fund is expected to significantly accelerate the recovery of EU economies in Central and Eastern Europe...

Banking

Poland holds key rate unchanged

Poland's central bank left its key interest rate unchanged on Wednesday, and said the scale of the possible economic recovery...

Debt

ÁKK sells HUF 97.5 bln of bonds at auction, over plan 

The Government Debt Management Agency (ÁKK) sold HUF 97.5 billion of bonds at auction on Thursday, HUF 27.5 bln more...

Trade

Estonia trade deficit declines in November

Estonia's trade deficit decreased to EUR 62 million in November 2020 from EUR 78 million in the same month of...

Banking

OTP Says Exposure Limited as Paraguay’s Ueno Bank Enters Insolvency

OTP Bank said its USD 47 million investment in Paraguay’s Ueno Bank represents a small exposure for the Hungarian lender...

Ratings

Fitch Sees Hungary’s Deficit Narrowing but Debt Burden Rising

Hungary’s budget deficit is expected to narrow and growth to accelerate in 2027, but rising debt and fiscal vulnerabilities continue...

MNB

MNB Cites Global Uncertainty Behind September Rate Hold

Global economic uncertainty constrained Hungary’s monetary policy room for maneuver, the National Bank of Hungary’s (MNB) Monetary Council agreed at...

OTP Says Exposure Limited as Paraguay’s Ueno Bank Enters Insolvency

OTP Bank said its USD 47 million investment in Paraguay’s Ueno Bank represents a small exposure for the Hungarian lender...

What Happens Next to What We’ve Built? New Challenges in Family Wealth Planning

Building a successful family business takes decades of work, but its future also depends on how carefully the transfer of...

Hungarian Banks Seek Gradual Reduction in 45% Effective Tax Burden

Hungarian banks hope for a “slow but certain” reduction in their tax burden, Hungarian Banking Association President Radovan Jelasity said...

MNB Probe Widens as International Arrest Warrant Issued for Ádám Matolcsy

International arrest warrants have been issued for Ádám Matolcsy, son of former Hungarian central bank Governor György Matolcsy, and businessman...

MNB Holds Base Rate at 5.5%, Maintains Symmetric Interest Rate Corridor

The Monetary Council of the National Bank of Hungary (MNB) left the base rate unchanged at 5.5% at its monthly...

Gránit Bank Hit by Largest Loan Loss Provision in Its History

Gránit Bank reported an additional approximately HUF 9.4 billion loan loss provision in the third quarter of 2026, the largest...

Fitch Sees Hungary’s Deficit Narrowing but Debt Burden Rising

Hungary’s budget deficit is expected to narrow and growth to accelerate in 2027, but rising debt and fiscal vulnerabilities continue...

MNB Cites Global Uncertainty Behind September Rate Hold

Global economic uncertainty constrained Hungary’s monetary policy room for maneuver, the National Bank of Hungary’s (MNB) Monetary Council agreed at...

MNB International Reserves Fall to EUR 62.1 bln in September

The National Bank of Hungary’s (MNB) international reserves stood at EUR 62.061 bln at the end of September, down EUR...

K&H Bank and Mastercard Extend Strategic Partnership Through 2030

K&H Bank and Mastercard have extended their exclusive strategic partnership through 2030, with plans to expand personalized digital financial services...

OTP Forecasts Hungary’s GDP Growth at 1.7% in 2026, 2.5% in 2027

Hungary’s economy could expand by 1.7% this year and 2.5% in 2027, with household consumption driving growth in 2026, according...

Hungary Posts EUR 481 mln Trade Deficit as Import Volumes Jump 13%

Hungary recorded a EUR 481 million goods trade deficit in August as import volumes rose 13% year-on-year while export volumes...

Bayer Construct Gets Default Ratings After Bankruptcy Protection Filing

Scope Ratings has assigned default ratings to Bayer Construct following its bankruptcy protection filing, citing financial pressure linked partly to...

Former Central Bank Governor Matolcsy Questioned as Suspect in Erste Case

Police have questioned seven suspects, including former National Bank of Hungary Governor György Matolcsy, in an investigation into alleged abuse...

MNB to Lower Inflation Target to 2.5% From 2028, Holds Base Rate at 5.5%

The National Bank of Hungary (MNB) will lower its inflation target to 2.5% from Jan. 1, 2028, while retaining its...