Current Account in Hungary
Hungary - Current Account (billions of U.S. Dollars)The pace of annual GDP growth accelerated in Q1 2022, as activity was underpinned by robust consumer spending amid a tight labor market and soaring wages, while fixed investment posted a faster increase. Moreover, exports recorded a healthy expansion. The rate of economic growth should moderate in Q2, partially due to a waning low base effect. Inflation spiked further in April, sending consumer sentiment plunging in May, which will be weighing on household spending. That said, business confidence was higher on average in April-May than in Q1, pointing to healthy investment. However, the introduction of a temporary windfall tax on banks’ and companies’ profits—to rein in the public deficit—stirred investor concern and lead to stock market losses in late May. Moreover, the government recently assumed emergency powers because of the Russia-Ukraine war, allowing it to rule by decree.
Hungary - Current Account (EUR bn) Data
|Current Account Balance (EUR bn)||2.7||5.2||2.9||0.0||-1.2|
5 years of economic forecasts for more than 30 economic indicators.
Hungary Current Account (EUR bn) Chart
Source: National Bank of Hungary.
|Bond Yield||2.08||0.0 %||Dec 31|
|Exchange Rate||295.1||-0.68 %||Jan 01|
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August 12, 2022
According to a second estimate by the Statistical Institute, industrial output expanded 1.5% year on year in June (May: +3.4% yoy).
August 11, 2022
Consumer prices increased 2.33% from the previous month in July, accelerating from the 1.47% rise seen in June.
July 29, 2022
According to a second estimate by the Statistical Institute, industrial output expanded 3.4% year on year in May (April: +4.7% yoy).
July 28, 2022
The GKI economic sentiment index, a composite indicator, fell to minus 9.4 in July from minus 7.5 in June.
July 28, 2022
At its 26 July meeting, the Monetary Council of the Hungarian National Bank (MNB) raised its base rate to 10.75% from 9.75%, marking the 15th consecutive increase.