Finance

Debt

Deficit as Proportion of GDP at 3.7% in Q1-Q3 2022

According to preliminary data, the deficit of the general government sector in Q1-Q3 2022 was HUF 1.825 trillion, 3.7% of...

Banking

Households Continue to Make Net Withdrawals in November

Households made net withdrawals of HUF 184 billion from their accounts at Hungarian banks in November, monthly data released by...

Trade

Hungary Attracts Record EUR 6.5 bln of Investments in 2022

Hungary drew a record EUR 6.5 billion of investments in 2022, Minister of Foreign Affairs and Trade Péter Szijjártó said...

Banking

Fewer Credit Cards in Circulation in Hungary

There are fewer and fewer credit cards in circulation in Hungary, according to data from the National Bank of Hungary...

MNB

Rate-setters Ready for ‘Appropriate Actions’ if Risks Increase

The Monetary Council of the National Bank of Hungary (MNB) said that maintaining the current level of the base rate...

Debt

ÁKK Sells HUF 18 bln of 6-month T-bills at Auction, Under Plan

The Government Debt Management Agency (ÁKK) sold HUF 18 bln of discount six-month T-bills at auction on Wednesday, HUF 2...

Debt

Bulgaria C/A Deficit Widens in October

Bulgaria's current account gap widened to EUR 177.1 million in October from EUR 24.3 million in the corresponding month of...

MNB

MNB Leaves Base Rate on Hold

The Monetary Council of the National Bank of Hungary (MNB) left the central bank's base rate on hold at 13%...

Debt

Lithuania C/A Swings to Deficit in Oct

Lithuania posted a current account deficit of EUR 4.63 million in October 2022, switching from a EUR 161.72 million surplus...

MNB

Matolcsy Made Case for Price Cap Phaseout in Early December

National Bank of Hungary (MNB) governor György Matolcsy argued for the phaseout of government-mandated price caps because of their indirect...

MNB

MNB Extends Maturity of EUR 4 bln ECB Repo Line

The National Bank of Hungary (MNB) on Thursday said the maturity of a EUR 4 billion repo line agreement it...

Debt

ÁKK Sells HUF 147.5 bln of Bonds at Auction, Over Plan

The Government Debt Management Agency (ÁKK) sold HUF 147.5 billion of bonds at auction on Thursday, HUF 77.5 bln more...

Banking

Value of Bank Card Purchases Rises 29% in Q3

The value of purchases in Hungary made with locally-issued bank cards climbed 29% year-on-year to HUF 3.184 trillion in the...

MNB

MNB Raises Classic Life Insurance Policy Yield Threshold

The National Bank of Hungary (MNB) on Wednesday said it is raising the maximum threshold for guaranteed yields on classic...

Banking

OTP Bank Buying Ipoteka Bank

OTP Bank yesterday said it signed a contract to buy close to 97% of Uzbek peer Ipoteka Bank from the...

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...