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Q3 Investment Volume Edges Higher to 7.7% y/y

HUNGARY
  • Oil and gas company MOL plans to spend HUF 40 billion on exploration in Hungary next year, the upstream head for the country said on Monday, according to a report by state news wire MTI.
  • The volume of developments in Hungary increased by 7.7% y/y in Q3 compared to the same period of the previous year, and by 1.9% compared to the previous quarter, according to data published by the Central Statistical Office (KSH). The KSH added that the increase in investments could be explained by the dynamic activity of households and businesses combined with shrinking government investments.
  • Nearly 700,000 voters have returned their National Consultation survey questionnaires in which the government is canvassing the public on their opinions regarding the economic problems caused by war-related sanctions. The Hungarian public has been asked about the impact of the war in Ukraine and sanctions the European Union introduced against Russia, Zoltan Kovacs, said.
  • There are no domestic data releases of note today, with focus turning tomorrow’s meeting of the European Commission who are expected to discuss the release of withheld EU funds to Hungary.
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