HungaryTrends – The week in business and finance
Change language:
See below the main business and financial news from the previous week:
HUNGARY’S GROSS WAGES GROW BY 12.6 PC, BUT NET WAGES STOOD AT 725 EUROS!
The average gross monthly wage of full-time employees in Hungary stood at 340,600 forints (EUR 1,049) in April, up by an annual 12.6 percent, the Central Statistical Office (KSH) said on Thursday. Read more HERE.
INTERNATIONAL INVESTMENT BANK TO OPEN A REGIONAL BRANCH OFFICE IN BUDAPEST
The International Investment Bank (IIB) is to open a regional branch office in Budapest, Minister of Finance and Deputy PM for Economic Policy Affairs Mihály Varga said after having signed an MoU with IIB Chairman Nikolay Kosov. Read more HERE.
TAX CUTS TO CONTINUE, SAYS ORBÁN CABINET
The government is to continue cutting taxes, Gergely Gulyás, head of the Prime Minister’s Office, told a regular press conference on Thursday. Read more HERE.
HIGHER OIL PRICES TO RAISE CPI OVER TARGET, BUT NBH SEES NO SPILLOVER
Inflation could rise slightly over the 3 percent mid-term target in the coming months on the back of sharp increases in global oil prices, but the National Bank of Hungary (NBH) said in a quarterly report it expects no spillover effects. Read more HERE.
ROMANIAN DRUG AGENCY SUSPENDS LICENCE OF RICHTER WHOLESALER
Hungarian drugmaker Gedeon Richter said the Romanian National Agency for Medicines and Medical Devices (NAMMD) suspended the operating licence of its local wholesaler, Pharmafarm, for a breach of Good Distribution Practice.