The European Court of Justice ruled in favour of Hungary against the European Commission’s decision that the progressivity of certain tax rates based on turnover was in breach of EU state aid rules.
The government is opening a 200 billion forint (EUR 580m) preferential credit line for local councils, Gergely Gulyás, the head of the Prime Minister’s Office, has said. Funding for local councils will rise by 18% next year, Gulyás said, underlining the importance of the role local councils play in Hungary’s fight against the novel coronavirus […]
Retail sales in Hungary fell by 10.2% year-on-year in April as the country went into lockdown to contain the spread of the novel coronavirus, data released by the Central Statistical Office (KSH) show.
Hungary’s economy has suffered from the corona crisis but chances are good that it will be among Europe’s most stable, the head of the Prime Minister’s Office said.
The first decisions regarding a government tender to support technology upgrades made by enterprises from the budget of 33 billion forints (EUR 95.5m) have been made in record time, Mihály Varga, the finance minister, has said.
Hungarian exports and imports plunged in March, when the coronavirus started impacting the economy, according to a second reading of trade data released by the Central Statistical Office.
Hungary’s seasonally adjusted Purchasing Managers Index (PMI) rose to 40.3 points in May from 33.7 in April, continuing to improve after plunging in March on the impact of the coronavirus pandemic, Halpim, the organisation that compiles the index, said.
Industrial producer prices rose by 3.7% in April from the same month a year earlier, the Central Statistical Office (KSH) said.
Innovation and Technology Minister László Palkovics discussed resuming tourism relations between Hungary and Germany with Germany’s deputy economy minister, the innovation and technology ministry said.
The government has diverted resources so that the 2021 budget could be focused on combatting the novel coronavirus epidemic and protecting the economy, Finance Minister Mihály Varga told public broadcaster Kossuth Rádió.
