Szijjártó: Europe Facing Serious Economic Challenges
Europe is facing serious economic challenges due to the war in Ukraine and the community’s sanctions against Russia, the foreign minister said on Facebook on Saturday.
Economy
Inflation to Peak in Autumn
Inflation is expected to peak in autumn 2022, then gradually subside until it reaches the central bank’s tolerance band at the end of 2023, and the NBH target of 3% by 2024 H1, according to Gergely Baksay, director of the National Bank of Hungary (NBH).
Mediaworks Suspends Világgazdaság, Figyelő Print Copies
Mediaworks Hungary is suspending the printed editions of business daily Világgazdaság and the weekly Figyelő indefinitely.
Jobbik Urges Higher Wages for Police
Opposition Jobbik is urging higher wages for police.
Weekly 500-700 Petrol Stations May See Fuel Shortage
Some 500-700 petrol stations could be without fuel every week despite the fact that there are no significant problems with supplies in the market, the deputy leader of the opposition Democratic Coalition (DK) said, citing a report by daily Népszava.
Policymakers Hike Base Rate 185 BP to 7.75%
Hungarian rate-setters (NBH) raised the base rate by 185 basis points to 7.75% at a monthly policy meeting on Tuesday.
‘Unacceptable’ Ryanair Passing on Special Tax to Customers
The government considers it “unacceptable” that low-cost airline Ryanair wants to pass on the tax on excessive profits to customers with retroactive effect, government spokeswoman Alexandra Szentkirályi said.
Car Industry ‘Facing Severe Challenges’
Like the economy of Europe as a whole, its car industry faces grave challenges in the coming period, the minister of foreign affairs and trade has said.
Bad News: One Euro Costs 404 HuF
This morning, the forint reached another negative peak against the euro: at 6 a.m. 400 forints had to be paid for 1 euro, but around 9:00, the national currency began to deteriorate rapidly, and around 11:00 the EU currency was worth more than 404 forints, writes HVG.
MOL Lowers Refuelling Limit for Retail Buyers
Hungarian oil and gas company MOL has set a 50-litre per-service refuelling limit for retail buyers at its domestic petrol stations from Friday, the company has said. The new limit is half the volume available so far, MOL told MTI.