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Morning Summary: Government Submits Its Plan For Spending EU Stimulus

HUNGARY
  • Covid daily new cases continue to decrease with the 7D SMA falling below 1,200 (lowest level since early February), down from 9,300 (March 26 high) and from 1,800 the previous week. The number of people who received at least one dose of the Covid vaccines surpassed 4.3mil on Sunday, which has led to a gradual reopening of the economy.
  • Hungary officially filed its plan to Brussels on Tuesday about how it intends to earmark billions of euros from the European Union's pandemic recovery fund according to Cabinet Minister Gergely Gulyas s (BBG).
  • April inflation surged to 5.1%, its highest level since 2012 and exceeding the 4.8% median estimate in Bloomberg. Fuel prices soared 39% YoY and tobacco products +20% on excise tax increase.
  • At 1pm (London time), central bank will release the minutes of April 27 meeting.

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