HungaryTrends – The previous week in business and finance – 26th week

Following are the week’s top business and finance news:

Hungary among the cheapest EU states

If we are looking at food prices, Hungary is one of the cheapest countries in Europe, according to Eurostat statistics. However, life is not so cheap once we take into consideration how much the average salaries are. Details HERE.

MAGYAR SUZUKI RAMPS UP PRODUCTION TARGET TO 185,000

Magyar Suzuki plans to produce 185,000 cars in Esztergom, in northern Hungary, this year, above 179,000 first targeted. Last year, the Esztergom plant turned out more than 172,000 vehicles.

HUNGARY WHEAT HARVEST FORECAST AT 5 M TONNES

A farm ministry official said Hungary’s wheat harvest is expected to amount to 5 million tonnes this year, a little short of 5.25 million last year.

Hungary’s unemployment rate at its lowest point!

Hungary’s three-month rolling average jobless rate was 3.4 percent in March-May, edging down from 3.5 percent in the previous three-month period and down from 3.7 percent twelve months earlier, read more HERE.

AVL BUILDING 38.8 MILLION EUROS DEVELOPMENT CENTRE IN HUNGARY

Austrian engineering company AVL laid the cornerstone of a 12.5 billion forint regional development centre in Érd, on the outskirts of Budapest. The government’s 3 billion forint grant will help the investment create 350 jobs.

ADIENT INAUGURATES 4 MILLION EUROS CAPACITY EXPANSION

US-owned car seat maker Adient Mezőlak inaugurated a 1.3 billion forint expansion at its base in Mezőlak, in western Hungary, raising combined production area at its three base in the country by 2,000sqm to over 10,000sqm. Adient employs more than 3,700 at the bases which supply BMW, Daimler, Ford, Tesla, Seat, Toyota and Volkswagen.

“PLUS” BOND SUBSCRIPTION REACHES 2.7 MILLION EUROS BY THIRD WEEK

Hungarian households subscribed 883 billion forints of the Hungarian Government Security Plus bond in the first three weeks after its launch on June 3, data published by the Government Debt Management Agency (AKK) showed. In the first week after the launch of the Plus bond, which pays an annualised yield of 4.95 percent, if held for the full five-year maturity, retail investors bought 529 billion forints, a record.

ACCOUNT ID COMPLIANCE DEADLINE PUSHED BACK TO OCTOBER 31

Parliament voted to push back the deadline for complying with stricter rules on identifying account ownership to October 31 from July 26. The Hungarian Banking Association welcomed the measure, but urged clients to reconcile their data with lenders as soon as possible.

https://dailynewshungary.com/stories-to-understand-the-hungarian-real-estate-market/

Source: MTI/DNH