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Hungary Trends – The week in business and finance
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Budapest, April 23 (MTI) – See below MTI’s main business and financial news from the previous week:
IMF RAISES HUNGARY GROWTH FORECASTS
The International Monetary Fund raised its forecast for GDP growth in Hungary this year to 2.9 percent from 2.5 percent in its latest World Economic Outlook. The IMF raised its forecast for GDP growth next year to 3.0 percent from 2.1 percent.
TATA CONSULTANCY SERVICES EXPANDS BUDAPEST SHARED SERVICE CENTRE
India’s Tata Consultancy Services (TCS) inaugurated 5,000sqm of office space at its shared service centre in Budapest, creating 500 jobs. Headcount at the service centre now stands at 1,800. Read more HERE.
HUNGARIAN, GEORGIAN BUSINESS LEADERS MEET IN TBILISI
Hungarian and Georgian business leaders met at a forum in Tbilisi during an official visit to the country by Prime Minister Viktor Orbán. Hungary’s Eximbank has opened an 85 million euro credit line to support partnerships between Hungarian and Georgian businesses. Read more HERE: GOOD HUNGARY-GEORGIA TIES SHOULD PROMOTE ECONOMIC COOPERATION, SAYS ORBÁN
RÁBA SIGNS EUR 10 M CONTRACT WITH RMMV
Hungarian automotive industry company Rába signed a contract worth up to 10 million euros over four years to deliver welded vehicle parts to the Austrian subsidiary of Rheinmetall MAN Military Vehicles (RMMV). The contract marks Rába’s entry into the welded vehicle parts segment.
SAN BENEDETTO SPENDS HUF 3 BN TO BOOST OUTPUT OF HUNGARIAN BRAND
The local unit of Italian mineral water bottler San Benedetto is spending 3 billion forints (EUR 9.6m) to triple output of its Mizse brand to more than 300 million bottles a year, distribution director Zoltán Balog said. The brand accounted for about half of Magyarvíz’s 6.6 billion forints in sales last year.