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Unemployment Rate Unchanged at 4.2% in December

HUNGARY
  • Hungary's unemployment rate was unchanged in December, as economists had expected. The rate was 4.2% (Est: 4.2%), according to the Central Statistical Office, while the number of unemployed rose to 207.3k from 206.8k the month prior.
  • Hungary's general government deficit may have reached 6pc of GDP last year as a decline in consumption amid falling real wages weighed on tax revenue, Finance Minister Varga said in an interview with Inforadio which was cited by MTI. Looking forward, Varga said the improvement in the fiscal balance would continue, but the budget couldn't be "ripped" from the economic context. The budget deficit needs to be reduced this year, but the 3pc Maastricht threshold can't be achieved in 2024, only in 2025, he added.
  • There are no other data releases scheduled for today, with the NBH rate decision taking focus next on Jan 30.
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