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- Covid daily new cases continue to decrease with the 7D SMA falling to 1,700 (lowest level since Feb 18), down from 9,300 (March 26 high) and from 2,600 the previous week. The number of people who received at least one dose of the Covid vaccines has surpassed 4 million today (40% of the population) at the end of last week, leading to a gradual reopening of the economy.
- Yesterday, Hungarian Finance Minister Mihaly Varga filed the 2022 draft budget to parliament:
- The government targets an economic growth of 5.2% in 2022, with a deficit of 5.9% (of GDP).
- Debt-to-GDP ratio expected to increase to 79.3% by the end of next year.
- Average wages expected to rise by 8% in 2022.
- Next economic data to watch will be retail sales and industrial production both coming out on May 6. The NBH is also expected to keep its 1W deposit rate steady at 0.75% at its weekly meeting on Thursday.