OECD expects Hungarian economy to pick up in mid-2005, urges fiscal consolidation
The Organization for Economic Cooperation and Development (OECD) sees economic growth in Hungary picking up from mid-2005, after a slowdown in H2 2004.
Hungary losing out to regional competitors, says KPMG
Hungary is losing out to regional competitors as new businesses arriving in the region choose destinations other than Hungary, while companies already here are leaving for more lucrative alternatives, concludes a study by consultancy firm KPMG.
Retail sales growth picks up to 3.5% in March
Retail sales in Hungary were up 3.5% year-on-year on a seasonally adjusted basis in March 2005 compared to the same month of 2004, according to figures released by the Central Statistical Office (KSH). This compares to adjusted growth of 2.4% in February and 3.2% in January.
Hungarian food manufacturers lose market share
The gross value of production in Hungary's food industry was HUF 1.96 trillion (USD 9.7 billion) in 2004, 2% higher than in the previous year. However, production was down 3.5% in volume terms, and resulted in a 6-7 percentage point loss in domestic market share.
Rising expansion costs hurt Raiffeisen's bottom line - Q1 net income down 13%
Raiffeisen Bank Rt, the Hungarian unit of the Austrian banking group, recorded IFRS net income of HUF 4.139 billion (USD 22 million) in the first quarter of 2005, down 13% from the same period of 2004, deputy CEO Krisztina Horvath announced.
