4iG Signs Deal to Acquire Israel’s Spacecom
Listed Hungarian IT company 4iG signed a new contract to acquire a 51% stake in Israeli satellite company Space-Communication over a period of several years.
Economy
Central Bank: Pace of Inflation Expected to Start Gradually Easing
Hungary’s central bank has said it expects inflation will continue rising in the remainder of the year, though from October its upward pace will start gradually easing.
Hungary Central Bank Raises Base Rate By 125 BP
Hungarian central bank rate-setters on Tuesday raised the base rate by 125 basis points to 13%. The rise followed a 100 bp hike at the policy meeting in August. The Council also decided on Tuesday to raise the O/N deposit rate by 125 basis points to 12.50%, and the O/N and one-week collateralised loan rates […]
Hungary Gross Wages Up 15.3 % in July
The average gross wage of full-time employees in Hungary grew by an annual 15.3% in July, amounting to 500,000 forints (EUR 1,230), the Central Statistical Office said on Friday.
Budget Deficit Close to HUF 2,872.7 BN at End-August
Hungary’s cash-flow-based budget deficit, excluding local councils, was 2,872.7 billion forints (EUR 7.1bn) at the end of August, the finance ministry said in a second reading of data on Friday.
At the EU level, food prices have risen the most in Hungary, and it is not over yet
In Hungary, the highest food inflation in the Union was measured in August compared to a year ago: bread, meat, cheese, and many basic foods rose in price the most in our country.
LMP: If Government Can Afford Pay Hike for Police, Then Teachers Should Also Get Higher Wage
The opposition LMP party has repeated its demand that the government raise teachers’ wages. “If there are enough funds in the budget to pay for a pay rise for police, then there is no reason to tie a hike for teachers to the arrival of EU funds,” MP Máté Kanász-Nagy told a press briefing.
Opposition Appeals to Top Court Against Small Business Tax Changes
Parties of the parliamentary opposition have appealed to the Constitutional Court to scrap a recent law changing regulations concerning the small business tax (kata), the head of Momentum told a press conference broadcast online in front of the top court building in Budapest.
Government Starts Energy Savings at State Institutions
The government is starting to make energy savings at state institutions, while ensuring the regulated price regime for household utilities remains in force, the government’s information centre KTK said in a statement late on Monday.
Jobbik Demands Measures Against Imported Labour
The opposition Jobbik party has demanded that the government should introduce quotas on the labour market and take measures against companies employing guest workers.