American automotive companies BorgWarner and Jabil are launching investments in Hungary worth a combined 12 billion forints (EUR 33.5m) and will receive 4.4 billion forints of government support, the minister of foreign affairs and trade said.
Hungarian central bank (NBH) rate-setters kept the base rate on hold at 0.60% and also decided to maintain the interest rate corridor.
Reopening restaurants and other catering facilities will depend on how quickly Hungary can get hold of vaccines and have its population vaccinated, Zoltán Kovács, the state secretary for international communications and relations, told MTI.
A deal was reached on Monday to hike the minimum wage by 4% from Feb. 1.
Consumer and business confidence improved in January from the previous month, economic research institute Századvég’s gauges of sentiment show.
Union association MASZSZ will reject a 4% minimum wage hike offered by employers and government representatives for 2020.
István Nagy, Hungary’s minister of agriculture, highlighted the importance of supporting local producers by shortening supply chains at the 13th Global Forum for Food and Agriculture this week, the agriculture ministry has said in a statement.
Hungary’s cash flow-based budget deficit, excluding local councils, was 5,548.6 billion forints (EUR 15.5bn) at the end of 2020, the Finance Ministry confirmed in a detailed reading of data.
Hungarian Foreign Minister Peter Szijjártó told MTI that Hungary and Russia have agreed to extend a long-term gas supply contract set to expire in October this year.
Germany’s thyssenkrupp will set up a 2.2 billion forint (EUR 6.2m) engineering development hub in Veszprém, in western Hungary, Péter Szijjártó, the minister of foreign affairs and trade, said.