Hungarian rate-setters kept the base rate on hold at 0.60% at a regular meeting. The Monetary Council also left the interest rate corridor unchanged, the National Bank of Hungary (NHH) said.
Fully 70% of Hungarians say the economy and jobs are most endangered by the coronavirus epidemic, while 27% are most concerned about people’s health, according to a survey by the Századvég Institute.
Hungary’s government will introduce further economy protection measures because the economy must be kept functional during the second wave of the pandemic, Finance Minister Mihály Varga said in an interview published in daily Magyar Nemzet on Saturday.
The government will extend for another six months the moratorium on loan repayments, Prime Minister Viktor Orbán said.
The National Tourism Data Service Center shows a 300,000 increase in tourist numbers compared to the same period last year.
Construction sector output in Hungary dropped by 21% in July after a contraction of 15.7% in the previous month, the Central Statistical Office (KSH) said.
The top priority of economic policy during the second wave of the coronavirus epidemic is to make sure the Hungarian economy stays afloat and that jobs and enterprises are protected and supported, the finance minister said.
Economic research institute GKI’s gauge of consumer confidence slipped to -31.1 points in September from -29.6 points in August, falling for the second month in a row after three consecutive months of improvement following a pandemic plunge in April.
The government is working to ensure that Hungary is able to function, Prime Minister Viktor Orbán told public broadcaster M1 on Saturday evening, asking the public to observe coronavirus-related measures.
The Visegrad Group has a vested interest in keeping central Europe’s economy going while curbing the spread of the coronavirus, Prime Minister Viktor Orbán said after a meeting with his Visegrad Group counterparts in Lublin, in southern Poland, on Friday.