Markets Actual Q4 Q1 Q2 Q3 2022
Currency 313.23 312 314 317 319 324
Stock Market (points) 55254.39 53253 51785 50356 48965 46301
Government Bond 10Y (%) 3.90 3.85 3.94 4.02 4.11 4.3

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 2.70 1.5 1 0.9 1 0.9
GDP Annual Growth Rate (%) 17.90 5.7 7.1 6.3 4.1 3.9
Unemployment Rate (%) 4.10 3.6 3.8 4 3.8 3.7
Inflation Rate (%) 5.50 3.7 2.7 2.5 2.6 2.9
Inflation Rate Mom (%) 0.20 0.1 0.3 0.3 0.3 0.2
Interest Rate (%) 1.80 2 2.5 2.75 2.75 2.75
Balance of Trade (EUR Million) -467.00 110000 500 1400 2900 -100
Current Account (EUR Million) -775.00 100 500 500 600 200
Current Account to GDP (% of GDP) 0.00 -0.5 -0.4 -0.4 -0.4 -0.4
Government Debt to GDP (% of GDP) 80.40 78 77.5 77.5 77.5 77.5
Government Budget (% of GDP) -8.10 -6.1 -5 -5 -5 -5
Business Confidence (points) 6.50 4.2 5.1 3.5 2.2 1
Consumer Confidence (points) -20.30 -15 -5 -6 -5 -6
Retail Sales MoM (%) 0.50 0.5 0.7 0.7 0.3 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 Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 2.70 1.5 1 0.9 1 0.9
GDP Annual Growth Rate (%) 17.90 5.7 7.1 6.3 4.1 3.9
GDP (USD Billion) 155.01 176 194 194 194 194
GDP Constant Prices (HUF Million) 10403959.00 8140296 11237661 9906884 11059408 11675930
Gross Fixed Capital Formation (HUF Million) 2641287.00 2071620 2703496 2740603 2807688 2808933
GDP per capita (USD) 16745.09 17100 18400 18400 18400 18400
GDP per capita PPP (USD) 31007.77 32800 34200 34200 34200 34200
GDP From Agriculture (HUF Million) 340093.00 236992 363170 368680 361519 377334
GDP From Construction (HUF Million) 421443.00 338611 400361 435691 447994 415975
GDP From Manufacturing (HUF Million) 2075695.00 1481118 2054301 2170205 2206464 2134418
GDP From Public Administration (HUF Million) 1245831.00 1080911 1323625 1339453 1324318 1375246
GDP From Services (HUF Million) 5611754.00 4359597 5728866 5901139 5965295 5952292
GDP From Transport (HUF Million) 489866.00 352374 487984 519967 520728 507016

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 4.10 3.6 3.8 4 3.8 3.7
Youth Unemployment Rate (%) 15.80 11.3 15.3 15.5 15.7 15.6
Labour Costs (points) 141.10 144 162 153 153 156
Wages (HUF/Month) 421001.00 485397 459297 459205 456365 525200
Wage Growth (%) 8.10 8 8.4 8.4 8.4 8.2
Minimum Wages (EUR/Month) 476.00 440 480 480 480 480
Population (Million) 9.77 9.72 9.7 9.7 9.7 9.7
Retirement Age Women 64.50 64.5 64.5 64.5 64.5 64.5
Retirement Age Men 64.50 64.5 64.5 64.5 64.5 64.5

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 5.50 3.7 2.7 2.5 2.6 2.9
Inflation Rate Mom (%) 0.20 0.1 0.3 0.3 0.3 0.2
Harmonised Consumer Prices (points) 120.01 118 120 122 123 122
Consumer Price Index CPI (points) 1438.90 1418 1439 1462 1476 1459
Core Consumer Prices (points) 435.30 488 494 447 454 509
Core Inflation Rate (%) 4.00 3.9 3.9 3.9 4.3 4.3
Producer Prices (points) 129.80 103 103 103 103 103
Producer Prices Change (%) 14.40 12.4 9.7 8.8 4.6 3.3
CPI Transportation (points) 111.30 111 112 112 112 113
Food Inflation (%) 3.80 4 4.3 4.3 4.3 4.5

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 1.80 2 2.5 2.75 2.75 2.75
Interbank Rate (%) 1.98 2.18 2.68 2.93 2.93 2.93
Deposit Interest Rate (%) 0.85 1.05 1.55 1.8 1.8 1.8
Private Debt to GDP (%) 136.20 140 135 135 135 135

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (EUR Million) -467.00 110000 500 1400 2900 -100
Current Account (EUR Million) -775.00 100 500 500 600 200
Current Account to GDP (% of GDP) 0.00 -0.5 -0.4 -0.4 -0.4 -0.4
Imports (EUR Million) 8871.44 8450 11600 10500 9600 9900
Exports (EUR Million) 8404.01 8600 12100 11900 12500 9800

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 80.40 78 77.5 77.5 77.5 77.5
Government Budget (% of GDP) -8.10 -6.1 -5 -5 -5 -5
Government Budget Value (HUF Billion) -392.00 220 -1100 -1100 -1100 -1190
Government Spending (HUF Million) 1047425.00 819601 1273319 1093280 1113413 1322979
Government Spending to GDP (% of GDP) 51.60 48 48 48 48 46.5
Government Revenues (HUF Billion) 1944.55 2980 1850 1850 1850 3410
Fiscal Expenditure (HUF Billion) 2333.61 4550 2950 2950 2950 4600

Taxes Actual Q4 Q1 Q2 Q3 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 (%) 35.50 42 42 42 42 42
Social Security Rate For Companies (%) 17.00 23.5 23.5 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 Q4 Q1 Q2 Q3 2022
Business Confidence (points) 6.50 4.2 5.1 3.5 2.2 1
Industrial Production (%) 2.60 2.2 3.5 4.1 4.1 3.2
Manufacturing PMI (points) 52.09 52.5 54.3 53.2 53.2 52.8

Consumer Actual Q4 Q1 Q2 Q3 2022
Consumer Confidence (points) -20.30 -15 -5 -6 -5 -6
Retail Sales MoM (%) 0.50 0.5 0.7 0.7 0.3 0.4
Retail Sales YoY (%) 4.10 4.2 3.7 3.7 3.7 1.9
Consumer Spending (HUF Million) 6133971.00 4811838 6562096 6198345 6520411 6818018
Bank Lending Rate (%) 2.75 2.95 3.45 3.7 3.7 3.7
Consumer Credit (HUF Billion) 1110.57 1045 1090 1141 1156 1085
Gasoline Prices (USD/Liter) 1.46 1.39 1.32 1.25 1.19 1.13

Housing Actual Q4 Q1 Q2 Q3 2022
Construction Output (%) 10.20 7.5 6.2 4.8 4.8 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.