Hungarian Conservative

The minister highlighted that low inflation has triggered a positive chain reaction in the national economy, with its beneficial effects increasingly felt by Hungarian families and businesses.

Hungary’s industrial output grew by 6.4 per cent year-on-year in April, the Hungarian Central Statistical Office (KSH) announced. However, adjusted to working days, the data actually shows a 2.4 per cent decline. In their statement the Ministry for National Economy explained that the Hungarian industry is still being weighed down by a sluggish European economy, curtailed by the war in Ukraine.

The Oeconomus Economic Research Foundation released an analysis regarding publishing and cultural institutions recovering after the pandemic on the occasion of the Day of Hungarian Culture.

The largest national minority living in the capital city is the Chinese; while the outbreak of the Russo-Ukrainian war led to the Ukrainians becoming the second largest minority in Budapest.

The price monitoring system will come into effect on 1 July, and is expected to contribute to pushing inflation back to single digits.

According to seasonally and calendar-adjusted and balanced data, the performance of the economy increased by 0.8 per cent compared to the same period of the previous year, while it decreased by 0.4 per cent compared to the previous quarter.

The Hungarian economy performed exceptionally well in 2022, despite the economic crisis caused by the war and the harmful sanctions imposed by Brussels.