News in Brief
Finance Minister: Government’s strict fiscal policy needed to push average inflation below 5%
Finance Minister Mihály Varga said inflation fell to 5.5% in December from 25.7% in January 2023.
Inflation
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News in Brief
Nagy: Inflation data in line with government’s expectations
Hungary's March inflation data was in line with the government’s expectations, having peaked in January before falling.
News in Brief
Nagy: Defeating inflation and narrowing wealth gap with other EU countries 2023 priorities
Márton Nagy told a conference that Hungary had a good chance of receiving EU monies and cohesion funds by the summer.
News in Brief
Gulyás: Measures aimed at curbing inflation will remain in place
Gergely Gulyás said the government will decide on every price cap scheme two weeks before they are set to expire.
News in Brief
PM Orbán: Inflation is due to sanctions
The prime minister said inflation will not be removed unless peace has been secured and Brussels has withdrawn sanctions.
News in Brief
Gulyás: Government relies on economic players and authorities to reduce inflation
Gergely Gulyás mentioned a review of Hungary’s pricing practices as “extremely important” and said the competition authority had relevant powers in the area.
News in Brief
Nagy: Inflation to fall into single digits by end of year
Minister Nagy said the government’s efforts to curb inflation will start coming to fruition.
News in Brief
NBH to do everything possible to restore and preserve price stability
Matolcsy said the central bank (NBH) would do everything possible to restore and preserve price stability.
News in Brief
FM: Hungary rejects “pushing the Russian narrative” on sanctions
Péter Szijjártó said no economy is suffering as much from the sanctions as that of the EU, where inflation has skyrocketed.
News in Brief
PM Orbán vows to cut inflation by at least half before end of 2023
The prime minister attributed rampant inflation to European Union sanctions against Russia.
Blog
The illogical folly of the West’s artificial recession
With the recent further pounding the forint has taken, I thought it a good time to turn to a piece this week by Martón Nagy, minister without portfolio in the Orbán government responsible for economic development.
News in Brief
Nagy: Global factors account for 80% of Hungarian inflation
The economic development minister said inflationary tensions were growing, and he also spoke of the risk of a recession.
News in Brief
Finance Minister: Fiscal policy and wages only had a mild effect on inflation
Hungary’s economy has rebooted at a fast pace, and up until the summer growth exceeded the pre-epidemic period.