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HUNGARY: Hungary Takes Over EU's Rotating Presidency

HUNGARY
  • Hungary takes over the rotating presidency of the EU for the second half of the year under Prime Minister Orban, who is also forming a new nationalist group of parties with Austrian and Czech counterparts. “We are creating a political formation that will forge ahead and soon become Europe’s largest right-wing group,” Orban told reporters on Sunday as per Bloomberg.
  • Hungary had a EUR 1.75bn trade surplus in April, expanding from a surplus of EUR 1.57bn in March, the Central Statistical Office said in a second reading of data this morning. Exports rose by 9.2 y/y while imports slipped by 2.9% y/y. The figures were broadly in-line with the preliminary readings.
  • Looking ahead, industrial production (Est: -2.1% y/y; Prior: -2.4%) and retail sales data (Est: +4.0% y/y; Prior: +3.2%) as well as preliminary trade balance figures for May will cross on Friday.
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungary
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungary

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