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Orban to Hold Annual Press Conference, Gross Wages Rise 13.9% Y/Y in Oct

HUNGARY
  • Putting the Hungarian economy back on a growth path is a "realistic goal", Prime Minister Viktor Orban said in an interview with broadcaster TV2 which was cited by MTI. Orban said European aid for Ukraine should come from outside the common budget or else members would "suffer drawbacks".
  • On inflation, he said he "could not exclude" inflation falling to around 7 percent by the end of December. While the government planned next year's budget with inflation at 6 percent, "it now seems more likely that inflation will be lower, even as low as 5 percent," he added.
  • Hungary's average gross wages rose 13.9% y/y in October versus +14% in September, according to the Central Statistical Office. That is the lowest reading since February. The month-on-month figure rose 1.2%.
  • Orban will hold his annual press conference at 0900GMT/1000CET from his offices in Budapest. Trade and current account balance data is on the docket tomorrow and are the last remaining domestic data releases of the year.
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