Prime Minister Viktor Orbán delivered his annual state-of-the-nation address yesterday at the Castle Garden Bazaar, talking about topics such as the governmentʼs climate protection plan, country building, regional relations, while lashing out against liberals, opposition parties, and investor George Soros, the long-time bête noire of the Hungarian government.
Hungaryʼs GDP rose 4.5% year-on-year in the fourth quarter of 2019, state news wire MTI reported, citing the first reading of data by the Central Statistical Office (KSH).
Although industrial production was weaker in October than previous months, analysts remain optimistic about the fourth quarter performance. The same can be said of the inflation rate; although it exceeded the 3% mark in November, market players think it only temporary.
Consumer prices were 4.7% higher on average in January 2020 than a year earlier. Significant price rises were measured over the past year for motor fuels, alcoholic beverages and tobacco as well as food, according to data by the Central Statistical Office (KSH).
ABB on Tuesday announced plans to shut down its circuit breaker plant in Ózd (149 km northeast of Budapest), laying off almost 1,000 people, because of falling demand, state news wire MTI reports.