Hungary Trends: The week in business and finance

Budapest (MTI) – Following are some of the top business and finance news last week:

Q1 GDP GROWTH 4.1 PC

Hungary’s GDP grew an unadjusted 4.1pc year on year in the first quarter, a first reading of data published by the Central Statistics Office (KSH) shows. The rate exceeded analysts’ expectation of 3.5 percent. KSH said industry and market services contributed the most to growth.

STATE DEBT AT 74.6 PC / GDP AT END Q1

Hungary’s state debt, calculated according to Maastricht rules, stood at 74.6 percent of GDP at the end of March, up from 74.1 percent of GDP at the end of December, the National Bank of Hungary (NBH) said. The state debt ratio in Q1 2017 fell from 76.6 percent compared to the same period a year earlier.

FOUR-QUARTER NET HOUSEHOLD SAVINGS RATIO FALLS TO FURTHER IN Q1

Hungary’s rolling four-quarter net household savings ratio fell to 4.4 percent of GDP in Q1, preliminary data released by the NBH show. The ratio peaked at 7.8 percent in 2015 and has been steadily dropping since then.

BUDGET BUFFER MUST REMAIN UNSPENT TO MEET 2018 DEFICIT GOAL, NBH REPORT SAYS