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Electronic payment becomes more and more popular in Hungary

  Hungarians use 9 million bank cards, 75 percent of which are contactless cards, and modern electronic payment solutions are now accepted at 110,000 shops and service providers using almost 140,000 POS terminals, Finance Minister Mihály Varga said in an interview with MTI. The volume of cash in circulation in the Hungarian economy is currently […]

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Two New Low-Cost Flights to the UK from Budapest

  British low-cost airline, EasyJet just announced that two new flights will be available for the 2018/19 winter season: the first one is available from November 2nd to London-Southend, while the second one from November 5th to Manchester. EasyJet offers two flights each week to the London-Southend airport from Budapest on Mondays and Fridays early […]

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Liberty Bridge in Budapest’ becomes a car-free on four consecutive weekends

  Previous summers transformation of Budapest’s Liberty Bridge into an ad-hoc park was a great success. This summer, for four full weekends, pedestrians can take over the Liberty Bridge once again. During the first week of freedom, the bridge hosted yoga and salsa classes. Over the second weekend, between 21-22 July, acrobats and acro-yoga performers […]

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  German car manufacturer BMW is going to build a factory in the eastern Hungarian city of Debrecen. The minister of foreign affairs and trade, Peter Szijjarto, announced on Tuesday that the factory will have capacity to manufacture 150,000 vehicles a year and will start off with 1,000 employees. Szijjártó said BMW will take ownership […]

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  The new 500-forint notes will be put into circulation on 1 February 2019 The banknote will get brighter color scheme and new security features. The redesign of the 500 HUF note is the last step of of an ongoing program, implemented since 2014 to replace old Hungarian banknotes with a new type of paper […]

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Hungary’s Parliament Approves Budget for next 2019 year

On Friday the government’s 2019 budget bill has been approved by Parliament . It was approved with 128 votes in favour and 56 votes against. According to the 2019 budget the revenue target is of 19,580.4 billion forints (EUR 60.1bn) and expenditures of 20,578.8 billion forints, with a deficit of 998.4 billion forints. The target […]

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Hungary moved up to 47th place in IMD World Competitiveness Ranking

Hungary has moved up five spots to 47th place in this yearʼs IMD World Competitiveness Ranking. Hungaryʼs economic strengths: – investments – the cost of living – exports – in terms of the corporate tax rate alone, Hungary was ranked first among the 63 economies covered by the IMD World Competitiveness Yearbook Challenges Hungary facing […]

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Budget Strategy in Hungary for 2019

Finance Minister Mihály Varga said the bill is designed to guarantee Hungary’s security, maintain economic growth, support families and pave the way for full employment. Next year’s budget targets economic growth of 4.1 percent and a budget deficit of 1.8 percent of GDP based on European Union accounting rules. The public debt is seen dropping […]

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