Economists Working with Government to Start Microfinance Bank in Hungary

Hungarian economists Peter Felcsuti, Andras Polgar and Andras Ujlaky are working with government officials on a plan to start a microfinance bank in Hungary.

Csanyi: "OTP Bank is Trouble Free" Even More True Today

It is even more true today that there is no trouble with OTP Bank than it was two or three months ago.

S+P Analyst Says Weaker Forint Raises Credit Risk of Banks

The weakening forint raises the credit risk of Hungary's banks, and any problems in the banking system that require costly state aid could put its ratings under pressure, Standard and Poor's analyst Kai Stukenbrock told Reuters on February 3rd 2009.

BayernLB Injects HUF 26.5 billion in Hungarian Unit

BayernLB will inject HUF 26.5 billion into its Hungarian unit MKB Bank in a capital raise.

Monetary Council Cuts Rates 50bp to 10.50 pct

The Monetary Council of the National Bank of Hungary cut the base rate 50bp to 10.50 pct at a non-rate setting meeting.


Trigranit Halves Planned Investments

Hungary's largest property developer, TriGranit reduces its planned investment to EUR 4bn due to the worsening financial conditions.


Hungary Fish Market Worth Annual HUF 17bn-19bn

Hungary's fresh fish market is worth an annual HUF 17bn-19bn, of which some 40 pct is generated around the winter holidays, when Hungarians traditionally eat fish, business daily I reported on December 8, 2008. 


Minister Says Rural-Development Programs to Continue in Spite of Financial Crisis

The government intends to continue funding current rural-development programs in spite of the financial and economic crisis, Minister of Agriculture and Rural Development Jozsef Graf said on the evening of December 4, 2008. 


Hungary Posts Foreign Trade Surplus of EUR 177 Million in September

Hungary posted a EUR 176.7m trade surplus in September, the Central Statistics Office (KSH) said in a second reading on December 4, 2008. 


Finance Minister Says Hungary Is Ready for Introduction of the Euro

Due to the global financial and economic crisis Hungary is expected to repay its debts sooner, thus moving the country closer to joining the eurozone.


News Monitoring