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Free AccessOrban Says Economy Will Recover in 2H
- Speaking on state radio this morning, Prime Minister Orban said Hungary’s economy is poised to show signs of recovery from 2H after “ugly” 2Q GDP figures that showed contraction for a fourth consecutive quarter. He said economic performance may be flat or “positive zero” for 2023, while reiterating his previous view that inflation may drop to single digits at some point between October and December.
- He also said economic expansion "must be linked to pay rises". Protection against high prices can happen by suppressing inflation and by raising wages, he said, adding that the government was intent on protecting families.
- Orban will hold talks with Qatar Emir Sheikh Tamim bin Hamad Al Thani in Budapest and announce business deals, Bloomberg report. The meeting will take place on Saturday, with Orban also to meet Turkish President Erdogan and Serbian President Vucic.
- Hungary's state debt relative to GDP reached 75.0% at the end of the second quarter, preliminary data released by the NBH shows. The ratio was up marginally from 74.9% at the end of Q1.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.