economy

According to the January 2026 survey by Századvég Konjunktúrakutató, economic expectations of households improved significantly (up +3.8 index points), while the economic sentiment of companies remained virtually unchanged (down 0.2 index points) from the previous month. Thus, the household index, measured on a scale of -100 to +100, improved to -6.8, while the business index weakened to -9.9. The last time we measured a higher prosperity index was in March 2022.

Brussels would admit Ukraine to the EU as early as 2027, before it has fulfilled the accession criteria. According to a recent survey by Századvég, three quarters of EU citizens reject the initiative. Most of them are concerned that the integration of Ukraine would worsen the situation of EU farmers, increase crime, weaken food safety and reduce development funding.

Although the Brussels elite is pushing for an increase in arms shipments and would like to send soldiers to Ukraine, European citizens do not agree with these efforts. A new survey by Századvég shows that 51% of EU citizens reject the former, while 69% reject the latter.

Macro Monitor - November 2025

Macro Monitor - October 2025

Századvég Konjunktúrakutató estimates that the Hungarian economy could grow by 0.4% in 2025, followed by 2.4% in 2026 and 2.5% in 2027. Consumption growth continues to support economic growth, but an increase in investment and a strengthening of external economic conditions are essential to achieve a sustainable growth path in the long term.

According to the December 2025 survey by Századvég Konjunktúrakutató, economic expectations of households (up 0.1 index points) and the economic sentiment of companies (down 0.1 index points) remained virtually unchanged from the previous month. Thus, the household index, measured on a scale of -100 to +100, improved to -10.6, while the business index weakened to -9.7. The last time we measured a higher prosperity index was in April 2022.

Brussels would impose a carbon tax on the energy used by European households for heating and cooling and on fuel consumption. The measure would have disastrous consequences: the electricity and gas bills of Hungarians would increase 3.9 times from the current level, which would cost an average household an extra 575,000 forints a year. The price of petrol and diesel would rise above 870 forints per litre, which, along with increased transport costs, would exacerbate inflation.

According to the November 2025 survey of Századvég Konjunktúrakutató, household economic expectations continued to improve (+1.8 index points), while business economic sentiment also strengthened (+1.3 index points) from the previous month. Thus, the household index, measured on a scale of -100 to +100, improved to -10.7, while the business index to -9.6. The last time we measured a better prosperity index was in May 2022 for households and in April 2022 for businesses, i.e. 41 and 42 months ago, respectively.

Macro Monitor - September 2025

According to the October 2025 survey of Századvég Konjunktúrakutató, households’ economic expectations continued to improve slightly (+0.5 index points), while companies’ economic sentiment strengthened significantly (+3.7 index points) from the previous month. Thus, the household index, measured on a scale of -100 to +100, improved to -12.6, while the business index to -10.9. The October survey found that the biggest positive shift among households was in plans for future higher-value spending, while among companies, the strongest positive change was in the general economic sentiment.

The majority of EU citizens find it unacceptable that Brussels is steering the EU away from its dependence on Russian natural gas towards a more expensive dependence on American gas. Rejection of the transition is highest in Hungary and Bulgaria, at 73%.

Macro Monitor - August 2025

Századvég Konjunktúrakutató estimates that the Hungarian economy could grow by 0.8% in 2025, followed by 2.7% in 2026 and 2.3% in 2027. Consumption continues to support economic growth, but stronger external conditions are essential to achieve a sustainable growth path in the long term.

According to the September 2025 survey of Századvég Konjunktúrakutató, household economic expectations improved significantly (+2.1 index points), while business economic sentiment also strengthened (+0.5 index points) from the previous month. Thus, the household index, measured on a scale of -100 to +100, improved to -13.1, while the business index to -14.6. The September survey found that the most significant positive change for households was an improvement in inflation expectations, while for companies it was a strengthening of investment intentions.

It has been leaked that if Tisza were to win the election, they would impose severe austerity measures. The party would raise personal income taxes, abolish tax breaks, and ban Russian energy sources. The majority of Hungarians reject all elements of the Tisza package, a survey by Századvég found.

Péter Magyar would deliver on Brussels’ expectations and cut off Hungary from Russian energy sources. The ban would increase the annual electricity and gas bills of an average Hungarian family by HUF 510,000, and those of low-income families by HUF 540,000. More than a million households would not be able to afford it.

Macro Monitor - July 2025

The Tisza Party has adopted Brussels’ objective of banning Russian energy sources into its programme. The measure would have serious consequences: Hungary could buy less oil, which would raise the price of petrol to 1,026 forints per litre and diesel to 1,051 forints, according to an estimate by Századvég.

Péter Magyar announced that he would ban Russian oil and gas from Hungary, as requested by Brussels. The measure would increase Hungarian families’ electricity and gas bills by three and a half times the current level. The increase in utility costs would mean an extra cost of more than half a million forints per year for an average household.