The European Commission projects Hungaryʼs GDP will fall 7% this year in a summer economic forecast published on Tuesday, unchanged from a forecast released early in May, according to a report by state news wire MTI.
In May 2020, the volume of sales in retail shops decreased by 2.8% according to raw data and by 2.1% when adjusted for calendar effects compared to the same period of 2019, according to data released by the Central Statistical Office (KSH).
The Monetary Council of the National Bank of Hungary (MNB) surprised the markets with a decision that took what had already been a record-low base rate down to 0.75%. The move sent the volatile forint to a historic low.
Lawmakers approved the governmentʼs 2021 budget today, with a vote of 133 for, 61 against and, 0 abstentions, according to a report by state news wire MTI.
Hungary will not open its borders for nationals from countries outside the European Union, with the exception of Serbians, Prime Minister Viktor Orbán said in relation to a proposal by the EU asking member states to open their borders to 14 non-European countries, according to a report by kormany.hu.
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