International Reserves in Hungary
Hungary - International ReservesThe economic scenario has further darkened at the outset of the second quarter, after the Covid-19 pandemic hit the economy in Q1. In March, industrial production contracted at the fastest rate in over a decade and retail sales growth eased markedly, reflecting the impact of lockdown measures imposed since 11 March. Moreover, both business and consumer sentiment fell to over decade lows in April. In response to the crisis, the government announced additional relief measures in April on top of those previously put forward, including support for prioritized sectors as well as interest-subsidized and guaranteed credit facilities for firms; the response package now totals around 13.6% of GDP. Meanwhile, some restrictions have been eased as of 4 May, barring in hotspot areas: Shops and restaurants are reopening, while some business travel is once again allowed.
Hungary - International Reserves Data
|International Reserves (USD)||33.1||25.8||28.0||31.4||31.8|
5 years of economic forecasts for more than 30 economic indicators.
Hungary International Reserves Chart
Source: National Bank of Hungary and FocusEconomics calculations.
|Bond Yield||2.08||0.0 %||Dec 31|
|Exchange Rate||295.1||-0.68 %||Jan 01|
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July 8, 2020
Consumer prices increased 0.40% in June over the previous month, matching May’s result.
July 7, 2020
Industrial output declined 27.6% year-on-year in May (April: -36.6% yoy), according to a preliminary estimate.
June 23, 2020
On 23 June, the Monetary Council of the Hungarian National Bank (MNB) cut the base rate by 15 basis points to 0.75%, marking its first cut since May 2016 and a new historic low.
June 22, 2020
The GKI economic sentiment index, a composite indicator, rose to minus 20.5 in June from minus 28.1 in May.
June 12, 2020
According to a second estimate by the Statistical Institute, industrial output declined 36.6% compared to the same month a year earlier in April, which was a larger contraction than March's 10.0% decrease and matched the first estimate.