HungaryTrends – The week in business and finance

See below the main business and financial news from the previous week:

HOW MUCH DO YOU HAVE TO WORK IN HUNGARY TO BUY A BIG MAC OR AN IPHONE 

In Budapest, you would need to work for almost an hour to earn enough money to buy a Big Mac, according to the UBS. They did an international survey, working with average salaries and average prices. Read more HERE. 

HUNGARIAN ENERGY DRINK CONQUERING THE WORLD 

According to last year’s survey, 59 percent of young adults ages 19 to 29 consume energy drinks, at least on occasion. This means that energy drinks are in the top 20 food categories, along with margarine, cat food and candies. Read more HERE.

FORINT FINDING NEW EQUILIBRIUM LEVEL, SAYS FINANCE MINISTER 

The forint is finding a new equilibrium level, adjusting to conditions on international markets, Finance Minister Mihály Varga said in an interview published in Friday’s issue of business daily Világgazdaság. Read more HERE. 

PARLIAMENT APPROVES 2019 BUDGET

Parliament wound up the summer session, approving the 2019 budget and a package of tax changes, as well as reinforcing legal protection for business secrets and raising the film production tax rebate from 25 percent to 30 percent. Read more HERE.

CONSTRUCTION OUTPUT JUMPS 15.1 IN MAY

Output of Hungary’s construction sector rose 15.1 percent year-on-year in May, the Central Statistics Office (KSH) said. Output of the building segment rose 8.8 percent during the period. Output of the civil engineering segment climbed 23.7 percent. Read more HERE.