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Morning Summary:  3mil People Have Received At Least First Covid Vaccine Dose

HUNGARY
  • The ease in restrictions seems to have halted the fall in Covid19 cases we have seen since the end of March with daily new cases rising in the last few days (7D SMA increased from 4,900 to 5,200 in the past 4 days). PM Orban mentioned on Tuesday that 3mil people have received at least first Covid19 vaccine dose (30% of population).
  • According to the quarterly balance of Payments report published on Tuesday, Hungary's external balance indicators seem to have improved in 2020 despite the pandemic:
    • Hungary had a CA surplus of 2.1% (of GDP), up from -0.8% in 2019;
    • External debt indicators reached historical lows of 8%;
    • And FX reserves significantly exceeded investors' required 'fortress level';
    • Hungary gross external debt rose to 58% of GDP in 2020.
  • NBH deputy governor Barnabas Virag speaks on Hungary's economy at 1pm (London time).
  • No major economic data is expected today.

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