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7th December, 2017

Industrial output soars in October



The increase in industrial output was 7.6% year-on-year in October, the Central Statistics Office announced as it released the first of its estimates on Wednesday.

The 7.6% workday-adjusted figure increase is identical to the unadjusted annual growth rate.

Industrial production rose 1.2% between September to October.

Industrial production increased 5.4% in the first ten months.

The increase in industrial output in October was the second highest growth rate this year, analyst Peter Virovacz of ING bank commented.

Now it is clear that the slow down in industrial production that was seen in the summer was only temporary, analyst David Nemeth of K&H bank argued. (ksh.hu; napi.hu; portfolio.hu; hvg.hu; origo.hu; magyarhirlap.hu)
7th December, 2017

Hungary draws on Russian credit



Hungary has drawn on the first
7th December, 2017

Bloomberg: MNB easing policy opposing the current



The MNB continues to follow a monetary easing policy thus standing against the main current of its peers in Eastern Europe who wish to strengthen monetary conditions, news agency Bloomberg said in an article analysing MNB policies yesterday.

MNB will purchase mortgage bonds from next year, which is a policy of easing. Surprisingly, MNB aims to bring down long-term rates not short-term rates which is the common practice in smaller countries, Bloomberg noted.

The MNB was criticised when it began its policy of easing but it turned out that it had done the right thing, bond fund manager Andreas Rein of Uniqa Capital Markets commented in Vienna. (portfolio.hu; napi.hu)
7th December, 2017

Swine fever detected at Ukraine border



The food safety authority Nebih has detected the African swine fever virus in a joint of pork confiscated at the Zahony border crossing point, near Ukraine, the authority announced on Wednesday.

The import of meat and meat products from non-EU countries, including Ukraine, is banned, even if it is for personal consumption, Nebih warned.

Despite the ban, customs officers regularly find meat products on travellers entering Hungary. (hvg.hu; portfolio.hu; index.hu; origo.hu; 444.hu)
7th December, 2017

Wheelchair users to get car purchasing subsidies



The government is offering Ft 50 million in subsidies to help individuals who use wheelchairs to purchase cars, Human Resources Ministry state secretary Karoly Czibere said at a press conference on Wednesday.

The subsidies will cover 50% of the purchase price, offering Ft 1-4 million worth of assistance to the purchaser.

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