The European Commissionʼs draft 2021-2027 EU budget, which will be released in May, plans to shift EU cohesion funding away from Central and Eastern Europe to countries hit harder by the financial crisis, the Financial Times reported Monday. The EC wants to shift the criteria away from GDP per capita towards core EU values.
Hungaryʼs cash flow-based general government, excluding local councils, ran a HUF 871.9 billion deficit at the end of March, the Ministry for National Economy confirmed in a second reading of data released Monday. The deficit thus reached 64.1% of the HUF 1,360.7 bln full-year target.
Industrial output was up nearly 7% in January from a year before. The figures give reason for optimism and analysts therefore also expect good GDP data for the first quarter.
In April, research institute GKI’s Economic Sentiment Index remained slightly lower than its historic peak in February. According to the empirical survey conducted by GKI with the support of the EU, expectations deteriorated in the business sector within the statistical margin of error, whereas they continued to rise among consumers.
In February 2018, average monthly gross earnings amounted to HUF 306,500, 11.9% higher than a year earlier. In January–February 2018, average gross earnings amounted to HUF 308,700 and net earnings to HUF 205,300, both up 12.9% compared to the first two months of 2017, earnings data from the Central Statistical Office (KSH) show.