Hungary Signs for Third Tranche of EU Loan

Hungary signed on June 11 a supplementary agreement with the EU under which it can call the third tranche of its loan from Brussels, the Finance Ministry said on June 12.

Seven Members of The Monetary Council Voted to Leave The Base Rate Unchanged

Seven members of the monetary council voted to leave the base rate unchanged and two members voted for a 50 basis point reduction on the council meeting on May 25.

Hungarians Save Up and Invest Instead of Borrowing

The present economic situation has not brought about changes in people’s use of financial products.

In April, the Trade Balance Showed a Surplus of HUF 125 Billion (EUR 430 Million)

In April 2009, according to first estimates, exports amounted to HUF 1,381 billion (EUR 4,661 million), while the value of imports reached HUF 1,256 billion Ft (EUR 4,231 million).

VCP Increases its Stake in FHB

Based on a conditional purchase agreement that VCP Finanz Holding Kft. (VCP) made with HSBC Bank plc (HSBC) in December 2007, VCP has acquired 3,175,000 ordinary shares of FHB Jelzálogbank Nyrt (FHB) from HSBC on June 8.

Hungary's Convergence Program Updated In Line With May IMF, EU Consultations

Hungary's freshly updated convergence program forecasts an ESA general government deficit of 3.9 pct of GDP for 2009 and 3.8 pct for 2010.


Hungary Sees Return to Growth after Two Years of Contraction
June 2 (Bloomberg) -- Hungary’s government expects the economy to emerge from a two-year recession in 2011

General Government Positions Were Better in the First Four Months than Had Been Projected

In the fourth month of the year, the cash-based general government deficit made up HUF  38.1 billion excluding local governments.

Fifteen Cheap Countries to See in the Recession – Hungary is On the Top

Hungary is at the top on the’s list on the fifteen cheap countries to see in the recession.

News Monitoring