NewsLetter

Government approves HUF 48 billion support for municipal projects

At its Wednesday meeting, the government decided on the allocation of funds totaling HUF 48.1 billion (USD 251 million) earmarked for municipal projects, government spokesperson Andras Batiz announced.

March inflation 3.5% y-o-y, 0.7% m-o-m, above expectations

Consumer prices in Hungary were 3.5% higher in March 2005 than a year earlier, the Central Statistical Office (KSH) announced Tuesday. Prices were up 0.7% compared to the previous month. The year-on-year figure is up from 3.2% in February, and is slightly higher than analyst expectations of 3.3% (Reuters), thus breaking a continuing disinflation trend that started last May. In the first three months of 2005, consumer prices were up 3.6% on average year on year.

GKI: Business confidence at record low, household confidence also down

In March 2005, business confidence in Hungary sank to record lows, continuing a weakening trend that set in last autumn, according to research institute GKI. With the outlook of households also worsening during the month, the composite confidence index fell to levels unseen since mid-1996.

Damages from bank card fraud HUF 204 million in 2004; 0.004% of total turnover

In 2004, there were 5,167 cases of bank card abuse involving cards issued in Hungary, with damages totaling HUF 204 million (USD 1.02 million), according to a report by central bank MNB. This represents 0.004% of total bank card turnover, down from 0.005% last year, even as damages actually increased by 1%.