Europeans say no to Ukrainian grain dumping

  The European Council has decided to extend the suspension of tariff and import restrictions on Ukrainian products. Brussels initially justified the relaxation of the rules on agricultural products from Ukraine by arguing that the war between Russia and Ukraine had prevented goods from reaching third countries via the previous transport routes. However, events over […]

Businesses’ sense of prosperity improved slightly in April

  The prosperity index remained in negative territory, determined by the prolonged Russia-Ukraine war and the uncertainty caused by economic sanctions. Further significant improvement in economic expectations will be possible if the war ends, inflation remains in the central bank’s target range (between 2% and 4%), the interest rate environment becomes more favourable and energy […]

Subdued economic growth expected in 2024

  Looking at global developments, the decline and expected further moderation in global oil prices should ease external and internal inflationary pressures. Weakening German growth prospects may have a downward impact on Hungarian exports in the period ahead. Geopolitical tensions such as the Russia-Ukraine war or the conflict in Gaza could be a cause for […]

No significant change in economic sentiment in March

  The prosperity index remained in negative territory, determined by the prolonged Russia-Ukraine war and the uncertainty caused by economic sanctions. Further significant improvement in the sense of prosperity will be possible if the war ends, inflation remains in the central bank’s target range (between 2% and 4%), the interest rate environment becomes more favourable […]

Why do we buy Hungarian or foreign products?

For food, nearly 70% of respondents thought it was important to choose Hungarian products, compared to a significantly lower 39% for books and 28-30% for furniture, cosmetics and clothing. When it comes to buying food, the preference for domestic products is likely to be linked to the promotion of freshness, quality and support for the […]

Economic sentiment stagnated in February

  The prosperity index remained in negative territory, determined by the prolonged Russia-Ukraine war and the uncertainty caused by economic sanctions. An even more significant improvement in the sense of prosperity will be possible if the war ends, inflation remains in the central bank’s target range (between 2% and 4%), the interest rate environment becomes […]

Household economic sentiment improved significantly in January

  The prosperity index remained in negative territory, determined by the prolonged Russia-Ukraine war and the uncertainty caused by economic sanctions. An even more significant improvement in the sense of prosperity will be possible if the war ends, inflation continues to fall, the interest rate environment becomes more favourable and energy markets see sustained low […]

Following a slight contraction this year, the Hungarian economy is expected to expand next year

  Several factors could affect Hungary’s economic performance in the coming period. As for international markets, we forecast slow growth in the euro area, which may support Hungarian exports to a limited extent. This year’s disinflation is likely to continue, which could support consumption growth, especially from 2024 onwards. The remaining uncertainty caused by the […]

Household economic sentiment at its strongest level in a year and a half

  The prosperity index remained in negative territory, determined by the prolonged Russia-Ukraine war, the declining but still high inflation environment and the uncertainty caused by economic sanctions. An even more significant improvement in the sense of prosperity will only be possible if the war ends, inflation continues to fall, the interest rate environment becomes […]

Businesses’ sense of prosperity improved significantly in November

  Three sub-indices of the household prosperity index fell and one improved compared to the previous month, and, overall, the index weakened marginally compared to October. Employment continued to be the most positively assessed, with a decline from -0.4 in the previous month to -1.0. Households are most negative about inflation, with this indicator down […]

Sense of prosperity improved among households and businesses in October

  Three sub-indices of the household prosperity index improved and one worsened compared to the previous month, and, overall, the index improved considerably compared to September. Employment continues to be the most positively assessed, returning from -5.9 in the previous month to a positive 0.4. Households are most negative about inflation, with a slight deterioration […]

One fifth of Europeans cannot heat their homes sufficiently

  Presenting the Spring Package of the European Semester, Brussels Commissioner Paolo Gentiloni said that the EU economy was performing better than expected and that Member States should end their energy subsidy schemes by the end of 2023. However, Századvég’s research reveals that claiming better-than-expected performance is an overstatement, and that implementing the call for […]

The Hungarian economy could get back on a growth path next year

Several factors may affect Hungarian economic performance in the coming period. Looking abroad, we expect economic expansion in the euro area and for our main trading partners, which should support sustained high growth rates in Hungarian exports. We expect continued disinflation in the euro area, which could bring down external inflationary pressures on the Hungarian […]

Transversal competences will define the labour market of the future

The factors mentioned in the introduction are fundamentally changing employers’ expectations of employee competences, with an increasing focus on skills that support flexible adaptation to an ever-changing world. Previously expected employee competences (e.g. professional knowledge, communication skills, language skills, coordination and management, negotiation skills, decision-making skills, etc.) are moving to the background, being reassessed or […]

European public opinion: Sanctions hurt the EU more than Russia

The European Union’s sanctions policy is reasonably expected to cause more damage to Russia than to Europe. As punitive measures have not been able to speed up the end of the war (in fact, the armed conflict is deepening) and the EU’s prospects are deteriorating, there is growing criticism of the Community’s previous efforts. EU […]

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