Markets Actual Q2 Q3 Q4 Q1 2022
Currency 295.86 297 299 301 303 306
Stock Market (points) 44160.71 43402 42475 41565 40674 38891
Government Bond 10Y (%) 2.98 3.03 3.15 3.27 3.4 3.65

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 1.40 1.3 2.8 1.5 1 0.9
GDP Annual Growth Rate (%) -3.60 13.5 5.7 5.9 7.5 4.1
Unemployment Rate (%) 4.50 6.2 6.2 5.8 5.4 4.9
Inflation Rate (%) 5.10 5 3.3 3.7 2.7 2.9
Inflation Rate Mom (%) 0.80 0.3 0.1 0.1 0.3 0.2
Interest Rate (%) 0.60 1 1 1 1 1
Balance of Trade (HUF Million) 371842.72 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 (%) 80.40 78 78 78 77.5 77.5
Government Budget (% of GDP) -8.10 -6.1 -6.1 -6.1 -5 -5
Business Confidence (points) -0.60 -6 -2 1 -1 4.5
Consumer Confidence (points) -24.50 -14 -9 -7 -5 -6
Retail Sales MoM (%) 0.80 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 1.3 2.8 1.5 1 0.9
GDP Annual Growth Rate (%) -3.60 13.5 5.7 5.9 7.5 4.1
GDP (USD Billion) 160.97 176 176 176 194 194
GDP Constant Prices (HUF Million) 10615969.00 9975922 10692075 11242311 11412167 11703246
Gross Fixed Capital Formation (HUF Million) 2590341.00 2721865 2566736 2743171 2784617 2855641
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 402137 369608 365562 371085 380550
GDP From Construction (HUF Million) 384776.00 402656 359775 407478 413634 424184
GDP From Manufacturing (HUF Million) 1934665.00 1730940 2046242 2048810 2079765 2132811
GDP From Public Administration (HUF Million) 1251354.00 1252713 1329963 1325184 1345206 1379516
GDP From Services (HUF Million) 5433457.00 5628433 5764947 5754031 5840966 5989946
GDP From Transport (HUF Million) 466120.00 482415 490866 493621 501079 513860

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 4.50 6.2 6.2 5.8 5.4 4.9
Youth Unemployment Rate (%) 11.50 15.3 15.3 14.9 14.5 14.5
Labour Costs (points) 132.20 156 137 143 143 154
Wages (HUF/Month) 401934.00 455482 423737 485397 445559 525200
Wage Growth (%) 9.60 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 (%) 5.10 5 3.3 3.7 2.7 2.9
Inflation Rate Mom (%) 0.80 0.3 0.1 0.1 0.3 0.2
Harmonised Consumer Prices (points) 116.83 119 117 118 120 122
Consumer Price Index CPI (points) 1411.50 1422 1409 1418 1439 1459
Core Consumer Prices (points) 425.90 482 483 489 493 504
Core Inflation Rate (%) 3.10 4.7 3.8 4.2 3.6 3
Producer Prices (points) 123.10 103 103 103 103 103
Producer Prices Change (%) 9.60 5.2 5.2 2.7 2.9 2.8
CPI Transportation (points) 116.50 102 102 102 102 102
Food Inflation (%) 1.70 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) 371842.72 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) 3654065.21 2870000 3410000 2930000 3170000 3140000
Exports (HUF Million) 4025907.92 3200000 4000000 3100000 3550000 3340000

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (%) 80.40 78 78 78 77.5 77.5
Government Budget (% of GDP) -8.10 -6.1 -6.1 -6.1 -5 -5
Government Budget Value (HUF Billion) 100.50 -1610 -1550 220 220 -1190
Government Spending (HUF Million) 1095870.00 1104917 956137 1160526 1178060 1208108
Government Spending to GDP (%) 46.10 48 48 48 48 46.5
Government Revenues (HUF Billion) 1900.05 1850 2250 2980 1850 3410
Fiscal Expenditure (HUF Billion) 2504.44 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) -0.60 -6 -2 1 -1 4.5
Industrial Production (%) 16.50 7 1.2 2.2 3.5 3.2
Manufacturing PMI (points) 50.80 51 51.9 52.5 54.3 52.8

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) -24.50 -14 -9 -7 -5 -6
Retail Sales MoM (%) 0.80 0.7 0.7 0.5 0.7 0.4
Retail Sales YoY (%) -2.00 1 2.5 4.2 3.7 1.9
Consumer Spending (HUF Million) 6297004.00 6335006 6154070 6668527 6769279 6941937
Bank Lending Rate (%) 1.85 1.85 2.25 1.25 2.25 2.25
Consumer Credit (HUF Billion) 1017.55 1063 1028 1047 1094 1090
Gasoline Prices (USD/Liter) 1.42 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.