Hungarian business and financial news from the previous week
Change language:
See below main business and financial news from the previous week:
Government to buy EUR 2.3m worth building in Budapest for a Chinese university
That would be the Shanghai-based university’s first campus abroad. Based on a government decree, it will receive a building in Budapest to start its education program, details HERE.
MATOLCSY: INVESTMENT GROWTH, JOB CREATION AND CHEAP CREDIT KEY TO RECOVERY
National Bank of Hungary (NBH) governor György Matolcsy said investment growth, job creation and cheap credit will be necessary for Hungary’s economic recovery from the coronavirus crisis, in an interview in the daily Magyar Nemzet. “We have every chance for Hungary to achieve one of the fastest rates of post-crisis economic growth in the past century. But that will require achieving three things,” Matolcsy told the paper. “First, the investment rate must remain over 25 percent each year, and it has to be raised over 27 percent from 2022, because investments are the foundation for future economic growth,” he said. Matolcsy said the other two factors that must be achieved are creating as many jobs as have been lost because of the coronavirus crisis, and making cheap credit available to corporate and retail borrowers.
MOL: CROATIA EARTHQUAKE NO THREAT TO INA UPSTREAM, DOWNSTREAM BUSINESSES
A 6.3 magnitude earthquake in Croatia has put neither the upstream nor downstream businesses of local oil and gas company INA at risk, the communications department of Hungary’s MOL, which has management rights in INA, told MTI. The epicentre of the earthquake, near Petrinja, was 12km from INA’s industrial base in Sisak.