The Hungarian government aims to sign a 3-year credit facility worth about EUR 15bn with the IMF and the EU, portfolio.hu reported citing the prime ministers secretary, Mihaly Varga as saying in a TV interview. The size of the financial support would be broadly in line with market expectations. Official negotiations would be launched only after the Hungarian parliament formally passes changes to the central bank law, aiming to ensure the banks independence. The government has already drafted the amendments, addressing concerns of the European Commission. The audit and budget committee of the Hungarian parliament cleared on Monday (May 7) the relevant amendments for general debate. |
Hungary's investment funds had aggregate assets of HUF 3.657tn (EUR 11.98bn) as of end-February 2013, up by 3.2% m/m, MTI news agency reported citing data from the association of investment funds ... more
The number of employees in Hungary's public and private sectors fell for the tenth straight month in January 2013 declining by 0.6% y/y to 2.574mn, the statistics office informed. The decline ... more
The assembly of state-owned Hungarian Electricity Works (MVM) has approved the purchase of the local gas business of German power utility E.ON, Hungary AM reported, citing local daily Magyar ... more