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7th November, 2019

Hungary facing worsening EU transfer balance

No EU member state had a better relative net EU transfer balance in the 2014-18 period than Hungary, which received a net €4.6 billion, according to data released by the European Commission on Tuesday.

Poland received a net €10.7 billion and Romania, which is twice as large as Hungary, was awarded the same amount as Hungary.

Hungary’s transfers reached 4.02% of gross national income, slightly ahead of Bulgaria in second with 3.97%.

According to the Commission’s proposal for 2021-27, Hungary’s contribution to the EU budget will rise from 0.85% to 0.98% while agricultural fund transfers will drop from 1.5% to 0.93% and structural fund transfers from 2.75% to 1.6%.

This means that Hungary’s net position will worsen considerably, Bruxinfo underlines. (bruxinfo.hu; hvg.hu)
7th November, 2019

Retail trade volume up 6.3%

Retail trade volume was 6.3% higher, year-on-year in September, up from 5.3% in August, the Central Statistics Office announced on Wednesday.

Workday-adjusted figures show a 5.8% increase in September.

The volume of food sales was up by 3.0%, non-food sales increased by 8.6% and fuel sales expanded by 6.1%, according to workday-adjusted data.

In the January-September period, the retail trade volume was 5.8% higher than in the same period of 2018.

Food sales were up by 3.2%, non-food sales expanded by 8.7% and fuel sales rose by 6.9%. (napi.hu; portfolio.hu; origo.hu; hvg.hu; magyarhirlap.hu)
7th November, 2019

Home construction up slightly

A total of 10,302 new homes were built in Hungary in the first three quarters of this year, a 0.8% year-on-year rise, the Central Statistics Office announced on Wednesday.

The number of new home construction permits issued rose by 2.7% to 27,388.

The average size of new homes grew from 94m2 to 97m2.

Among new homes, 55% were built for sale, 42% for own use and 1.6% for rent.

An estimated 18,000-20,000 new homes will be built this year, about half of the amount necessary to replace the housing stock, according to home construction promotion association TLE.

It added that the number of new homes built in Austria is about 3.5 times higher per capita than in Hungary and is 2.6 times higher in Poland. (napi.hu; portfolio.hu; magyarhirlap.hu; hvg.hu)
7th November, 2019

Ministry urges SMEs to change

Hungarian companies must change their ways in order to remain competitive on the international scene, Innovation and Technology Ministry state secretary Laszlo Gyorgy declared yesterday as he presented the ministry’s new strategy for SMEs.

Companies have to switch to new technologies, become environmentally friendly and old owners should pass control on to new generations, he said.

The ministry will help to keep these companies in Hungarian hands.

Gyorgy observed that all strategies reveal their true value after they are executed. (portfolio.hu; origo.hu; magyarnemzet.hu; hvg.hu)

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