Finance

Debt

ÁKK sells HUF 47 billion of bonds at switch auction

The Government Debt Management Agency (ÁKK) sold primary dealers HUF 47 billion of bonds maturing in 2022 and 2023 in...

MNB

Debt rises to all-time high, government spins figure

Hungary’s gross consolidated government sector debt, calculated at nominal value, in line with the Maastricht methodology, rose to HUF 24.904...

MNB

Debt rises to all-time high, government spins figure

Hungary’s gross consolidated government sector debt, calculated at nominal value, in line with the Maastricht methodology, rose to HUF 24.904...

MNB

Savings ratio rises to 7.3% of GDP in Q1

Net financial savings of Hungarian households reached HUF 495 billion in nominal terms in the first quarter of 2017, or...

MNB

Inflation rate concerns Varga, MNB deputy governor

National Economy Minister Mihály Varga on Thursday said the economy is in “top form” and the country’s fiscal position is...

MNB

EBRD lowers Hungary GDP forecast for 2014

The European Bank for Reconstruction and Development (EBRD) lowered its forecast for Hungary’s GDP growth this year to 1.6% in...

MNB

OECD: “Moderate recovery” for Hungary to continue into 2015

The OECD projected a “moderate recovery” would continue in Hungary in its newly released economic forecast published today. “The moderate...

MNB

MNB to raise FX financing adequacy ratio requirement

The National Bank of Hungary (MNB) yesterday announced that the minimum foreign exchange financing adequacy ratio requirement would gradually be...

Banking

EC nixes second reverse-VAT call for sugar sector

The European Commission has rejected a request by Hungary to introduce reverse VAT in the sugar sector, the National Economy...

MNB

Pleschinger: Further base rate cuts increase risks

Further base rate cuts by the National Bank of Hungary (MNB) would further increase risks, MNB Monetary Council external member...

MNB

MNB executive directors: International reserves may be lowered “with due caution”

Hungary’s reserves could be lowered with due caution as they exceed reference levels watched by investors and short-term external debt...

MNB

MNB to amend Funding for Growth conditions

The National Bank of Hungary (MNB) announced that conditions of its Funding for Growth scheme will be amended as of...

MNB

Hungarian non-financials remain net lenders in 2013

Hungarian non-financial companies remained net lenders in 2013, “saving” net HUF 1.052 trillion or 3.6% of GDP, financial accounts data...

Ratings

S&P raises Hungary credit rating to “stable”

Ratings agency Standard and Poor’s this morning reported a revision to its outlook on the long-term sovereign credit ratings on...

MNB

MNB ups deficit forecast for 2014 to 2.9% of GDP

The National Bank of Hungary (MNB) forecasts Hungary’s 2014 general government deficit, calculated according to European Union rules, will reach...

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...