Hungary Trends – The previous week in business and finance

Budapest (MTI) – See below MTI’s main business and financial news from the previous week:

ORBÁN: HUNGARY NOT SEEKING TO RENEGOTIATE PAKS LOAN

Hungary is not seeking to renegotiate the conditions of a loan from the state of Russia to upgrade its nuclear power plant, Prime Minister Viktor Orbán said after talks with Russian President Vladimir Putin in Budapest.

ROSATOM CEO TRUSTS PAKS UPGRADE WILL MOVE FORWARD AS PLANNED

Russia’s Rosatom expects the European Commission to clear the upgrade of Hungary’s Paks nuclear power plan soon, allowing construction to start in 2018 as planned, CEO Aleksei Likhachev said in an interview published in Magyar Idők. Read more HERE: ROSATOM CEO TRUSTS PAKS UPGRADE WILL MOVE FORWARD AS PLANNED

ORBÁN: DELIVERY OF RUSSIAN GAS TO HUNGARY THROUGH SLOVAKIA FEASIBLE

Hungary could take gas deliveries from Russia’s Nord Stream pipeline via Slovakia, Premier Viktor Orbán said after talks with Russian President Vladimir Putin. He said the question of stability affecting deliveries of Russian gas through Ukraine was unavoidable.

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ORBÁN: ECONOMIC GROWTH COULD BE FAR ABOVE 3 PC THIS YEAR

Economic growth this year could be far above 3 percent and there are high hopes that it might even pass 4 percent, Prime Minister Viktor Orbán said in Szeged. Read more HERE: ORBÁN SIGNS MODERN CITIES COOPERATION WITH SOCIALIST MAYOR OF SZEGED

HUNGARY JOBLESS RATE FALLS TO 4.4 PC

Hungary’s rolling average three-month jobless rate reached 4.4 percent in October-December, dropping from 4.5 percent in the previous period and 6.2 percent in the same period a year earlier, the Central Statistical Office (KSH) said. Read more HERE.

ZWACK UNICUM PROFIT JUMPS 26.8 PERCENT IN FIRST THREE QUARTERS OF BUSINESS YEAR

After-tax profit of Zwack Unicum, a Hungarian spirits maker, rose 26.8 percent to 2.53 billion forints (EUR 8.18m) in the first three quarters of its 2016-2017 business year, the company said in its earnings report.

GOVERNMENT PUBLISHES OLAF REPORT ON METRO 4 CONSTRUCTION PROJECT

The Hungarian government published a report by the European Anti-fraud Office (OLAF) on violations during the construction of Budapest’s fourth metro line on its website. OLAF said the irregularities cost 227.9 million euros to the EU’s Cohesion fund. You can read the document HERE: GOVT PUBLISHES OLAF REPORT, BLAMES PREVIOUS CABINETS FOR CORRUPTION SCANDAL

WIZZ AIR FY Q3 REVENUE RISES 9.9 PC

Hungarian low-fare airline Wizz Air’s revenue rose 9.9 percent annually to 341.1 million euros in the third quarter of its business year started April 1, an IFRS earnings report showed. Passenger numbers increased 20.1 percent to 5.7 million.

HUNGARY PPI UP 0.5 PC IN DEC

Industrial producer prices in Hungary rose 0.5 percent year-on-year in December, climbing for the first time during the year, a release by KSH shows. Domestic prices rose 1.2 percent. Export prices edged up 0.2 percent.

HUNGARY PMI RISES TO 56.5 IN JANUARY

Hungary’s seasonally-adjusted Purchasing Managers Index (PMI) rose to 56.5 points in January from a revised 52.8 points in December 2016, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which compiles the index, said. Read more HERE.

Source: MTI