The chances of stagflation in China are high, with the rise of producer prices and energy supply deficit making economic activities lag behind. Stagflation is the phenomenon when an economy’s productivity does not grow, whilst inflation remains high. It usually occurs in times of supply shocks. It was first identified on a wider scale in […]
More than 250 thousand fewer automotive products were manufactured this year in The Czech Republic, causing an estimated 200 billion koruna loss for the Czech automotive industry. The announcement makes it known that in the first nine months of the year, the car companies of The Czech Republic produced exactly 831 653 passenger cars, 2.9 […]
On Wednesday, details regarding the credit moratorium appeared. In the enactment, an important change was introduced. In the cases of retail credit cards and overdraft credit, instead of higher interest rates, the clients will only have to pay a smaller amount, typical for personal loans. This would mean, that an estimated five hundred thousand affected […]
The government made another four decisions on the proposal of the operational department, which is responsible for relaunching economic growth, in order to improve the competitiveness of companies as well as to develop infrastructure and transport – as said by Péter Szijjártó, the Minister of Foreign Affairs and Trade, on MTI. The minister recounted that […]
Since last May, small and medium-sized enterprises can get turnover tax back under only 20 days, which is the shortest period allowed for VAT allocation in the European Union. “Due to this measure, until the end of August 2021, companies received a total of 1550 billion forints earlier” – informed Norbert Izer the MTI. “The […]
As expected, the Monetary Council of the National Bank of Hungary has increased the prime interest rate from 1,2 to 1,5. The MNB promised in advance that a raise is likely, which was not at all shocking, as on account of the previous two months’ interest rate raise, inflation had decreased (but is still well […]
The trade union would estimate the value of the Romanian minimum wage, which is considered to be the lowest paying salary of the EU, based on the consumer basket. Despite it being enshrined in law, the government of Bucharest does not want to consider following through with it. On the contrary, they have plans of […]
Each EU member countries’ respective minister of foreign affairs will be attending a videoconference on Tuesday, discussing the current situation in Afghanistan – stated the press office of the Ministerial Council on Monday. Following the newest developments in Afghanistan, as well as several long-winded discussions with partners, I made the decision of calling the member […]
130 countries, including China, India and Turkey were in support of introducing a minimal global corporation tax at the conference held by the Organization for Economic Co-operation and Development Financial. Only nine, in an economical point of view, smaller countries, amongst them Hungary, did not sign the current draft of the agreement. It is easier […]
Wednesdays official data shows that the vaccination campaign is slowing down in Germany, also, it seems that on the daily more and more people are getting infected by the new variant of covid (SARS-CoV-2). The Robert Koch Institute stated that 985 new people have been registered with the virus in the last 24 hours. This […]
