Hungarian business and financial news from the previous week
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See below main business and financial news from the previous week:
NET AVERAGE WAGE IN HUNGARY REACHES EUR 649 IN JUNE
The average gross monthly wage in Hungary rose by annual 14.4 percent to 297,251 (EUR 976) forints in June, the Central Statistics Office (KSH) said on Tuesday. Net wages grew at the same pace as gross wages did to reach 197,672 forints (EUR 649). While the median average wage in EU is about EUR 1,520 not all countries are equal, so for example the largest average salary have been registered in Denmark (EUR 3,095) while the lowest in Bulgaria (EUR 406), Hungary has the third lowest net wage in EU.
HUNGARIAN REAL ESTATE MARKET SKYROCKETING
The latest analysis of Ingatlan.hu reveals that the most popular residential park is the one at Lajos Street. The study also drew some interesting conclusions. These include that the most expensive flats are in Újlipótváros: they usually cost 1560 euros per square meter. Among the flats in the countryside, the ones close to Budapest are the most popular, like in Érd or Pomáz. The most expensive flats are in Budaörs. Hungary’s cheapest flats can be found in Ózd, Komló or Mezőhegyes.
SHOCKING WAGES IN HUNGARY – THE REALITY OF THE LABOUR MARKET
Do you know how much a priest earns in Hungary? Or a judge, a smith, a parking attendant, a sign language interpreter? You can find out about Hungarian wages per month from napi.hu’s collection.
S+P REVISES OUTLOOK ON HUNGARY RATING TO ‘POSITIVE’
Standard and Poor’s Global Ratings revised the outlook on Hungary’s ‘BBB-/A-3’ long- and short-term foreign and local currency sovereign credit ratings to ‘positive’ from ‘stable’. “The outlook revision reflects our expectation that Hungary’s improving economic and external metrics might support ongoing improvements in the financial sector and thus strengthen the monetary transmission channel,” S+P said.
SMG TO INVEST EUR 27m IN HUNGARY EXPANSION
Indian automotive industry supplier Samvardhana Motherson Group (SMG) will build a 8 billion forint (EUR 27m) rearview mirror and bumper plant in Túrkeve (SE Hungary), the Minister of Foreign Affairs and Trade said. The government is supporting the investment, which will create 415 jobs, with a 2.2 billion forint grant, he said.