Shared Service Centers Continue Growth in Hungary

PricewaterhouseCoopers conducted the first comprehensive survey on the SSC industry in Hungary, finding that Hungary’s shared services industry has grown into one of the country’s largest employers with 30,000 jobs.

Hungary to Join ERM-II in 2 years, says City

Hungary may join the ERM-II exchange rate system in two years' time, London-based analysts of emerging markets said on Monday.

General Government Gross Debt 79.6pct of GDP; Net Borrowing at 4.4pct

According to preliminary financial accounts data, general government net borrowing was equal to 4.4pct of Hungary’s GDP in the year to 2010 Q1.

In March, the Trade Balance Showed a Surplus of EUR 653 Million

In March, the trade balance showed a surplus of EUR 653 million (HUF 172 billion); the balance improved by EUR 167 million (HUF 25 billion) compared to the same month of 2009.

Richter Group’s Sales Amounted to HUF 63,451 Million in the three Months to March 2010

Richter Group’s sales amounted to HUF 63,451 million (EUR 236.4 million) in the three months leading to March 2010.

GKI Think Tank Says Export-Driven Industry can Revive Economy

Hungary's industrial and trade data are improving as the country's export market recovers.

Next Gov’t to Submit Plan on Tax System, Red Tape and Local Councils

Hungary's new government will prioritise changes to the tax system, reduction of state bureaucracy, and new cooperation with local councils, Viktor Orbán, head of Fidesz, said.

Monetary Council Reduces Base Rate to 5.25pct

The Monetary Council has reviewed the latest economic and financial developments, voting to reduce the Central Bank base rate by 25 basis points from 5.50pct to 5.25pct with effect from April 27, 2010.

BDO Unit Expects Hungarian Mergers and Acquisitions Market to Grow in 2010

The market of mergers and acquisitions in Hungary could expand at a rate of 10– 20pct in 2010 after a slump last year, the Hungarian unit of international consultancy BDO International said on April 19.

NBH Financial Stability Report

The National Bank of Hungary released its financial stability report on Wednesday.

News Monitoring