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12th September, 2019

Forint falls to 333 per euro

The forint weakened to Ft 333.14 per euro on Wednesday, hitting a new record low for the second consecutive day.

The exchange rate against the US dollar stood at Ft 302.75, slightly better than the record low of Ft 303.11 reached last week.

Today’s rate-setting meeting of the European Central Bank will significantly influence the forint exchange rate, analysts commented.

MNB governor Gyorgy Matolcsy recently affirmed that the central bank has no exchange rate target, but only follows inflation developments. (napi.hu; portfolio.hu; hvg.hu; index.hu; 444.hu)
12th September, 2019

EU supports M30 construction

The EU Cohesion Fund is granting €552.6 million for the construction of the M30 motorway connecting the city of Miskolc to the Slovak border at Tornyosnemeti, the European Commission announced on Wednesday.

The motorway is part of the EU’s Via Carpatia project, financing road constructions connecting the Baltic and Balkan regions.

The EU financing covers the construction of 60km of motorway, and of 48 bridges over the road, with a planned completion date of February 2022.

Better links between Slovakia and Hungary help to create jobs by inducing tourism and trade, said EU Education, Culture Youth and Sports Commissioner Tibor Navracsics. (napi.hu; portfolio.hu; hvg.hu; index.hu; 444.hu)
12th September, 2019

Guest nights lower in July

The number of guest nights spent at commercial accommodation in Hungary dropped by 3.2% year-on-year to 4.4 million in July, the Central Statistics Office announced on Wednesday.

The number of guest nights spent by foreign visitors fell by 5.4% to 1,884,000, while the number of guest nights spent by domestic travellers was 1.5% lower at 2,536,000.

Total revenues of commercial accommodations went up by 4.7% to Ft 62 billion in July and reached Ft 300 billion over the first seven months of the year.

The hotel room occupancy rate was 71.7% in July, down slightly from 72.7% one year earlier.

In the first seven months, hotel room occupancy edged down to 59.5% from 59.6% in the same period of last year. (napi.hu; hvg.hu; origo.hu; magyarnemzet.hu)

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