Upcoming Economic Events in Hungary
Monetary Council Meeting
- Date: Tuesday
- Focus: The National Bank of Hungary (MNB) will continue its interest rate-setting process, likely extending its rate-cutting cycle following the previous reduction of 25 basis points to 5.75%.
Labour Market and Investment Data
- KSH Investment Report: Wednesday will see the release of second-quarter investment data from the Central Statistical Office (KSH).
- First Quarter Overview: Year-on-year investment volumes fell by 0.5% unadjusted and by 1.3% seasonally adjusted. A 0.4% decrease was noted compared to the previous quarter.
State Budget Report
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Finance Ministry: The Finance Ministry will publish a detailed report regarding the central sub-system of the state budget at the end of July.
- July Overview: Preliminary figures indicate a surplus of 524.3 billion forints, improving by 537.1 billion year-on-year. However, the deficit for the first seven months stands at 2,857.9 billion forints, which is 67.7% of the annual target.
Wage Data
- KSH Wage Report: On Thursday, wage data for June will be released.
- Earnings Stats (May): Gross earnings averaged 764,100 forints (up 8.7% YoY), while net earnings were 535,900 forints (11% YoY increase). The median gross earnings were 615,600 forints (9.5% YoY increase).
Employment and Unemployment Figures
- KSH Employment Report: On Friday, the employment and unemployment data for July will be provided.
- June Stats: The unemployment rate was 4.4%, with 214,000 unemployed persons. The average employed population was 4.646 million, showing a decline compared to the previous year.
These economic releases will provide insights into Hungary’s financial health and labor market dynamics.
