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HUNGARY: Orban Says Growth Momentum Will Be “Huge” From 1Q-2025

HUNGARY
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  • Speaking on state radio this morning, Prime Minister Orban said Hungary’s government is working on further steps to boost economic growth while cutting the budget deficit and public debt. He said GDP growth is set to remain around 1-2% in late 2024, but then the economy will start to take “huge” momentum from 1Q of 2025. He said concrete measures on growth and the budget will be presented in the next few weeks, with plans including steps to boost affordable housing.
  • Hungary’s Paks nuclear plant has had a 250MW loss of output due to an equipment failure in block 2 in the early hours of Friday, Bloomberg report citing a statement from the operator on its website. It added that repairs are ongoing, without offering any further details.
  • There are no major data releases scheduled for today, or for the entirety of next week. The NBH meet next on October 22.
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  • Speaking on state radio this morning, Prime Minister Orban said Hungary’s government is working on further steps to boost economic growth while cutting the budget deficit and public debt. He said GDP growth is set to remain around 1-2% in late 2024, but then the economy will start to take “huge” momentum from 1Q of 2025. He said concrete measures on growth and the budget will be presented in the next few weeks, with plans including steps to boost affordable housing.
  • Hungary’s Paks nuclear plant has had a 250MW loss of output due to an equipment failure in block 2 in the early hours of Friday, Bloomberg report citing a statement from the operator on its website. It added that repairs are ongoing, without offering any further details.
  • There are no major data releases scheduled for today, or for the entirety of next week. The NBH meet next on October 22.