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Ministry Confirms HUF 1,418.2bn Deficit At End-Oct
Hungary’s cash flow-based budget, excluding local councils, ran a 1,418.2 billion forint (EUR 4.5bn) deficit at the end of October, the Economy Ministry confirmed in a second reading of data released Tuesday. The deficit reached 121.6 percent of the 1,166.4 billion forint full-year target. In the month of October alone, the shortfall amounted to 181.9 billion forints. more »
Mexico Crucial Stronghold For Hungary
In the next few years, Mexico will be “the main pillar of Hungary’s presence in Latin America“, Levente Magyar, state secretary at the foreign ministry, told a press conference in Budapest on Thursday. more »
Hungarian-Brazilian Economic Committee Adopts Plan To Boost Bilateral Ties
The Hungarian-Brazilian mixed economic committee held its 3rd session in Budapest on Friday to adopt a work plan on promoting bilateral economic ties. more »

Businesses, Households To Make EUR 830m-900m In Tax Savings Next Year


Businesses, Households To Make EUR 830m-900m In Tax Savings Next Year
Hungarian businesses and households will make 260-280 billion forints (EUR 830m-900m) in tax savings next year, Economy Minister Mihály Varga said in Wednesday’s issue of daily Magyar Idők. The reduction in the payroll tax by 2.5 percentage points to 19.5 percent will save businesses 200 billion forints next year, Varga said. more »

OTP Closes Far-Right Bank Account


OTP Closes Far-Right Bank Account
OTP bank has closed the account of far-right movement Strength and Commitment (Erõ és Elszántság) lead by Zsolt Tyirityán, the bank told the weekly Magyar Narancs. more »

Mobilising 1.8 M Inactive Hungarians Potential Solution To Labour Shortage


Mobilising 1.8 M Inactive Hungarians Potential Solution To Labour Shortage
Mobilizing the around 1.8 million inactive Hungarians could be a potential solution to the country’s increasingly pressing labour shortage, daily Magyar Idők said, citing Piroska Szalai, adviser to the economy ministry and chair of the board of the Budapest Enterprise Agency. more »



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