Markets Actual Q2 Q3 Q4 Q1 2022
Currency 299.79 301 303 305 307 311
Stock Market (points) 42524.70 41605 40717 39845 38990 37281
Government Bond 10Y (%) 2.74 2.85 2.96 3.07 3.19 3.43

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 1.40 2.3 2.8 1.3 1 0.9
GDP Annual Growth Rate (%) -3.60 8.8 5.2 5.9 3.7 3.8
Unemployment Rate (%) 4.50 6.2 6.2 5.8 5.4 4.9
Inflation Rate (%) 3.70 5 3.3 3.7 2.7 2.9
Inflation Rate Mom (%) 0.70 0.3 0.1 0.1 0.3 0.2
Interest Rate (%) 0.60 1 1 1 1 1
Balance of Trade (HUF Million) 307000.00 350000 330000 110000 170000 200000
Current Account (EUR Million) 184.62 600 800 100 500 200
Current Account to GDP (%) -0.80 -0.5 -0.5 -0.5 -0.4 -0.4
Government Debt to GDP (%) 66.30 78 78 78 77.5 77.5
Government Budget (% of GDP) -2.00 -6.1 -6.1 -6.1 -5 -5
Business Confidence (points) -11.10 -6 -2 1 -1 4.5
Consumer Confidence (points) -32.60 -14 -9 -7 -5 -6
Retail Sales MoM (%) -1.20 0.7 0.7 0.5 0.7 0.4
Corporate Tax Rate (%) 9.00 9 9 9 9 9
Personal Income Tax Rate (%) 15.00 15 15 15 15 15

GDP Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 1.40 2.3 2.8 1.3 1 0.9
GDP Annual Growth Rate (%) -3.60 8.8 5.2 5.9 3.7 3.8
GDP (USD Billion) 160.97 176 176 176 194 194
GDP Constant Prices (HUF Million) 10615969.00 9150730 9562823 8140296 11242311 11669519
Gross Fixed Capital Formation (HUF Million) 2590341.00 2499473 2609153 2071620 2743171 2847412
GDP per capita (USD) 17466.00 17100 17100 17100 18400 18400
GDP per capita PPP (USD) 32622.90 32800 32800 32800 34200 34200
GDP From Agriculture (HUF Million) 345195.00 347276 385485 236992 365562 379453
GDP From Construction (HUF Million) 384776.00 413298 385982 338611 407478 422962
GDP From Manufacturing (HUF Million) 1934665.00 1883571 1659262 1481118 2048810 2126665
GDP From Public Administration (HUF Million) 1251354.00 1215924 1200839 1080911 1325184 1375541
GDP From Services (HUF Million) 5433457.00 5519452 5395362 4359597 5754031 5972684
GDP From Transport (HUF Million) 466120.00 554296 462438 352374 493621 512379

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 4.50 6.2 6.2 5.8 5.4 4.9
Youth Unemployment Rate (%) 13.60 15.9 17.2 11.3 16.8 16.3
Labour Costs (points) 132.20 154 164 151 143 154
Wages (HUF/Month) 411032.00 434419 455482 450100 485397 525200
Wage Growth (%) 9.50 8 8 8 8.4 8.2
Minimum Wages (EUR/Month) 442.44 440 440 440 480 480
Population (Million) 9.77 9.72 9.72 9.72 9.7 9.7
Retirement Age Women 64.00 64.5 64.5 64.5 64.5 64.5
Retirement Age Men 64.00 64.5 64.5 64.5 64.5 64.5

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 3.70 5 3.3 3.7 2.7 2.9
Inflation Rate Mom (%) 0.70 0.3 0.1 0.1 0.3 0.2
Harmonised Consumer Prices (points) 115.94 116 119 117 118 122
Consumer Price Index CPI (points) 1400.70 1398 1422 1402 1418 1459
Core Consumer Prices (points) 475.40 482 483 489 491 504
Core Inflation Rate (%) 3.90 4.7 3.8 4.2 3.6 3
Producer Prices (points) 120.80 103 103 103 103 103
Producer Prices Change (%) 8.10 5.2 5.2 2.7 2.9 2.8
CPI Transportation (points) 107.80 102 102 102 102 102
Food Inflation (%) 2.10 3.8 3.5 4 4.3 4.5

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 0.60 1 1 1 1 1
Interbank Rate (%) 0.79 0.77 1.17 0.53 1.17 1.17
Deposit Interest Rate (%) -0.05 -0.05 -0.05 0.3 0.3 0.3
Private Debt to GDP (%) 128.90 140 140 140 135 135

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (HUF Million) 307000.00 350000 330000 110000 170000 200000
Current Account (EUR Million) 184.62 600 800 100 500 200
Current Account to GDP (%) -0.80 -0.5 -0.5 -0.5 -0.4 -0.4
Imports (HUF Million) 3127000.00 2870000 3410000 2930000 3170000 3140000
Exports (HUF Million) 3434000.00 3200000 4000000 3100000 3550000 3340000

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (%) 66.30 78 78 78 77.5 77.5
Government Budget (% of GDP) -2.00 -6.1 -6.1 -6.1 -5 -5
Government Budget Value (HUF Billion) -604.40 -1610 -1550 220 220 -1190
Government Spending (HUF Million) 1095870.00 837970 1059163 819601 1160526 1204626
Government Spending to GDP (%) 46.10 48 48 48 48 46.5
Government Revenues (HUF Billion) 3006.32 1850 2250 2980 1850 3410
Fiscal Expenditure (HUF Billion) 5256.80 3400 2200 4550 2950 4600

Taxes Actual Q2 Q3 Q4 Q1 2022
Corporate Tax Rate (%) 9.00 9 9 9 9 9
Personal Income Tax Rate (%) 15.00 15 15 15 15 15
Sales Tax Rate (%) 27.00 27 27 27 27 27
Social Security Rate (%) 39.50 42 39.5 42 42 42
Social Security Rate For Companies (%) 21.00 23.5 21 23.5 23.5 23.5
Social Security Rate For Employees (%) 18.50 18.5 18.5 18.5 18.5 18.5

Business Actual Q2 Q3 Q4 Q1 2022
Business Confidence (points) -11.10 -6 -2 1 -1 4.5
Industrial Production (%) 1.90 9.8 6.1 4.2 3.5 3.2
Manufacturing PMI (points) 48.74 53.5 52.5 52 52.3 52.5

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) -32.60 -14 -9 -7 -5 -6
Retail Sales MoM (%) -1.20 0.7 0.7 0.5 0.7 0.4
Retail Sales YoY (%) -5.90 1 2.5 4.2 3.7 1.9
Consumer Spending (HUF Million) 6297004.00 5823480 6072675 4811838 6668527 6921931
Bank Lending Rate (%) 1.85 1.85 2.25 1.25 2.25 2.25
Consumer Credit (HUF Billion) 1002.40 889 1019 761 1047 1086
Gasoline Prices (USD/Liter) 1.36 1.24 1.17 1.1 1.06 1.01

Housing Actual Q2 Q3 Q4 Q1 2022
Construction Output (%) -16.10 17.8 15 7.5 6.2 3.2


This page has economic forecasts for Hungary including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Hungary economy.