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 […]
While Brussels urges, an overwhelming majority of Hungarians oppose Ukraine’s EU accession
Since the outbreak of the war, Ukraine’s speedy accession to the European Union has become an increasingly prominent issue in European public discourse. The issue of EU accession is a major divide in public opinion and raises many questions. Hungarians have a number of legitimate questions about the EU membership aspirations of their neighbouring […]
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 […]
Hungarians sympathise with Israel—Public concern about Islamic terrorism is significant
Hungarians sympathise with Israel The starting point of the survey was to assess the perceptions of Israel, Palestine and Hamas among the adult Hungarian population, and to establish an approval index as a difference between positive and negative opinions. It can be seen that Israel’s approval index is in the positive range (plus 8), while the […]
Today Hungary is the voice of the European people – Sovereignty Conference
Hungary can remain successful if it follows the path of national sovereignty The conference was opened by Gábor Fűrész, Chairman of the Board of Trustees of Századvég, who said in his welcome speech that the history of Századvég dated back to the fall of communism, in which the representatives of the organisation at the time […]
Europeans expect their leaders to end the war between Russia and Ukraine, not to finance it
The President of the European Commission, Ursula von der Leyen, assured Ukraine of unwavering support and proposed additional EUR 50 billion in aid, in addition to the EUR 83 billion already granted. The amount would be paid by EU Member States, and the EU would use it to fund Ukraine’s expenditure until 2027. The Brussels strategy behind the […]
The growth rate of the Hungarian economy approached its historical trend value
Following a 100 basis point cut in the policy rate in previous months, the central bank’s Monetary Council also started to cut the base rate at its October meeting. As a result, the Hungarian base rate (and the policy rate) currently stands at 12.25%, down 75 basis points. Raw data show that retail sales decreased by […]
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 […]
European public opinion says the EU is the biggest loser of the sanctions
The fundamental requirement for sanctions is that they cause more harm to the sanctioned country than to the economies that impose them. In the months following the outbreak of the Russia-Ukraine war, leaders in Brussels argued that increasingly harsh punitive measures should be imposed because they would bring the Russian economy to its knees in […]
Hungarian economic growth has reached a turning point
At its meeting in September, the Monetary Council of the central bank did not change the base rate (13%) but continued to cut the policy rate. The central bank cut its effective rate, the overnight deposit facility rate, by 100 basis points to 13.0%. Raw data show that retail sales decreased by 7.7%, while […]
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 […]
The growth rate of the Hungarian economy shows a sustained increase
At its meeting in August, the Monetary Council of the central bank did not change the base rate (13%) but continued to cut the policy rate. The central bank cut its effective rate, the overnight deposit facility rate, by 100 basis points to 14.0%. Raw data show that retail sales decreased by 7.8%, while calendar-adjusted data […]
Hungarian economic growth could reach historical trend rate in the near future
At its meeting in July, the Monetary Council of the central bank did not change the base rate (13%) but continued to cut the policy rate. The central bank cut its effective rate, the overnight deposit facility rate, by 100 basis points to 15.0%. Raw data show that retail sales decreased by 12.7%, while calendar-adjusted data […]
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 […]
Hungarian economic growth still below trend, but improvement expected
At its meeting in June, the Monetary Council of the central bank did not change the base rate (13%) but continued to cut the policy rate. The central bank cut its effective rate, the overnight deposit facility rate, by 100 basis points to 16.0%. Raw data show that retail sales decreased by 13.6%, while calendar-adjusted data […]
Corrupt elite in Brussels – majority believes EU bureaucracy is surrounded by corruption
The political leadership in Brussels can be bribed The poll shows that that more than two-thirds (68 percent) of Hungarians consider the activities of the Brussels elite to be corrupt overall: 35 percent of respondents consider Brussels leaders and EU bureaucracy to be highly corrupt, while 33 percent consider them rather corrupt. The results of […]
Reflection on the European Commission’s preliminary report on the review of the regulatory framework for waste management
In 2022, the European Commission launched a public consultation on the review of the regulatory framework for waste management[1], to which Századvég Konjunktúrakutató Zrt. also responsed. We expressed our view that while the modernisation of waste legislation was meant to take into account the original objectives of the framework (e.g. waste management, reuse and […]
Brussels migrant quota – public opinion says no to mandatory resettlement
The rejection of the mandatory resettlement quota is significant Research data show that 70 percent of respondents have recently heard about Brussels’ plan to make it mandatory for EU Member States to distribute migrants according to quotas and to establish and maintain refugee camps in Member States again. It is important to emphasise that Hungarian […]
