October 2008

There Is no Similarity between Hungary and Iceland, Central Bank President Says

National Bank of Hungary (NBH) president Andras Simor told television station CNBC on October 22nd 2008 that any comparison between Hungary's economic and financial situation and that of Iceland was entirely unfounded and unjustified. 


Hungarian Retail Sales Volume down 1.4 pct yr/yr in August

Retail sales volume in Hungary fell a calendar year-adjusted 1.4 pct yr/yr in August 2008, the Hungarian Central Statistical Office (KSH) reported on October 22nd 2008.

NBH Has Means to Step in If Forint Weakness Endangers Inflation Goal, Stability

The National Bank of Hungary has the means to intervene if Hungary’s currency weakening further.


OTP Liquidity Position Secure Short- and Long-Term, Deputy CEO Urban Tells Dow Jones

The liquidity position of Hungary's largest retail bank is secure both short- and long-term, OTP deputy CEO Laszlo Urban.


Richter to Receive HUF 1.38 Billion in Government Support for New Plant

Hungarian drug company Richter will receive EUR 5.21 million in government support for the construction of a new biotechnology, R&D and manufacturing plant.


K&H to Offer New Hungary Microloans Beginning on October 21th

Gordon Bajnai announced that K&H Bank will offer New Microloans starting 21st of October.


OECD Says Hungary's Innovation Output Lower than Expected

Organization for Economic Co-operation and Development (OECD) Department Chief Jean Guinet said in Budapest on October 20th 2008 that Hungary's innovation output has lagged significantly behind that expected over the past few years.


Construction of Waste Treatment Facility to Begin in NE Hungary

A consortium of the construction companies Vegyepszer, Ke-Viz 21 and Kozgep on October 20th 2008 laid the cornerstone for a HUF 1.7 billion (EUR 6.47 million) solid waste treatment facility at Nagyecsed (NE Hungary).


Hungary Invested EUR 147 million in Croatia During H1 2008

The value of Hungarian investments in Croatia was EUR 147.4 million in the first half of 2008.


Hungary's 2009 Budget Includes HUF 300 Billion in Reserves

Hungary's revised 2009 budget submitted to parliament on October 18th 2008 contains around HUF 300 billion (EUR 1.14 billion) in reserves, Finance Minister Janos Veres said on a television program on October 19th 2008 night.


News Monitoring