The Hungarian government will carry on with its economic protection measures aimed at offsetting the effects of the novel coronavirus pandemic throughout the autumn, the finance minister told an online conference.
Global companies using cutting-edge technology are putting their trust Hungary, its investment environment and the Hungarian people, Foreign Minister Péter Szijjártó said at the official opening of the Continental test track in Veszprém, in western Hungary.
Hungary’s budget deficit, excluding local councils, was 2,261.3 billion forints (EUR 6.2bn) at the end of August, widened by spending related to the coronavirus, economic stimulus and pre-financing for European Union funded projects, the Finance Ministry confirmed in a detailed reading of data.
Hungarian rate-setters kept the base rate on hold at 0.60% at a regular meeting. The Monetary Council also left the interest rate corridor unchanged, the National Bank of Hungary (NHH) said.
Fully 70% of Hungarians say the economy and jobs are most endangered by the coronavirus epidemic, while 27% are most concerned about people’s health, according to a survey by the Századvég Institute.
Hungary’s government will introduce further economy protection measures because the economy must be kept functional during the second wave of the pandemic, Finance Minister Mihály Varga said in an interview published in daily Magyar Nemzet on Saturday.
The government will extend for another six months the moratorium on loan repayments, Prime Minister Viktor Orbán said.
The National Tourism Data Service Center shows a 300,000 increase in tourist numbers compared to the same period last year.
Construction sector output in Hungary dropped by 21% in July after a contraction of 15.7% in the previous month, the Central Statistical Office (KSH) said.
The top priority of economic policy during the second wave of the coronavirus epidemic is to make sure the Hungarian economy stays afloat and that jobs and enterprises are protected and supported, the finance minister said.
