HungaryTrends – The previous week in business and finance

See below main business and financial news from the previous week:

HUNGARY HOLIDAY RETAIL SALES TO HIT NEW RECORD

Holiday retail sales in Hungary are set to reach a new record, exceeding 1,200 billion forints (EUR 3.6bn), with over 100 billion forints spent on gifts, the head of the National Commerce Association (OKSZ) said.

Forbes: The top 50 wealthiest Hungarians in 2019

This is the sixth time that the top fifty wealthiest Hungarians are revealed at the end of the year. Not many changes happened in the top 10, but there are some new ones on the list and some surprises as well. Read more HERE.

• Budapest airport passenger numbers pass 16 m mark

CONSTRUCTION OF 403 KM STRETCH OF TURKSTREAM PIPELINE IN SERBIA COMPLETED

The construction of a 403 km stretch of the TurkStream natural gas pipeline in Serbia was announced on Wednesday morning. In a statement issued by the foreign ministry on Wednesday, Szijjarto welcomed the announcement, saying that Hungary was taking preparatory steps for the project in line with plans.

GOVT PROJECTS AT LEAST 4.0 PC ANNUAL GROWTH UNTIL 2023

In the December update of the government’s Convergence Plan, the Finance Ministry is predicting that GDP will grow by at least 4.0 percent every year until 2023.

OPUS SIGNS CONSTRACT ON SALE OF MATRAI EROMU TO MVM

Listed holding company Opus Global on Monday said it signed a contract on the sale of its 72.6 percent stake in Mátrai Erőmű, which operates Hungary’s second-biggest power plant, to the state-owned Hungarian Electricity Works (MVM).

OCT TRADE SURPLUS REVISED DOWN TO EUR 479 M

Hungary’s October trade surplus was revised down to 479 million euros in a second reading of data released by the Central Statistical Office (KSH) on Monday. In the first reading, published on December 9, KSH had put the October surplus at 514 million euros.

Source: MTI