Investors love Hungary, says finance minister

Investors from all around the world maintain a strong interest in the Hungarian economy, Finance Minister Mihály Varga said on Friday.

“As is evident from the latest assessments by credit rating agencies, investors favourably assess the stable foundations of the Hungarian economy,” Varga said on Facebook.

“We cut the budget deficit in spite of the war, sanctions and the election year. We reduced state debt more than expected, too,” he added.

He noted that Hungary’s economy grew faster than the European Union average even without Recovery and Resilience Facility (RRF) funding. “We’ll avoid a recession this year, too,” he added.

• Read also: Szijjártó: Hungary had become a meeting point for Eastern and Western investments

Hungary factory gate prices up by 29 percent in February

Factory gate prices in Hungary rose by 29.0 percent year-on-year in February, driven by dearer energy and commodities, and the weaker forint, the Central Statistical Office (KSH) said on Friday.

Prices for domestic sales climbed 56.4 percent, boosted by energy prices, while export prices rose by 15.8 percent. Headline PPI fell from 33.5 percent in January.

In a month-on-month comparison, factory gate prices fell by 2.2 percent as prices for domestic sale were down 1.3 percent and export prices declined 2.6 percent.

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