Hungarians are the most pessimistic in Europe

poor man

The pessimism of the Hungarians and the inflation in Hungary are both Europe-recorders, even though good news emerged concerning Hungary’s trade surplus.

According to 24.hu, the rate of people spending more than their income every month increased by 20% even though they do not have any savings. That is the main reason why Hungarians are the most pessimistic in Europe. 90% say that inflation will be high in the next half year according to Intrum’s annual European Consumer Payment Report. The document is based on thousands of consumer opinions from 20 countries. Solvency is decreasing in Hungary, slowing down economic growth, Judit Üveges, Intrum’s sales director, said.

Meanwhile, Hungary’s trade surplus reached EUR 708 million in August, widening from EUR 559 million in the previous month, the Central Statistical Office (KSH) said in a first reading of data on Monday. Exports slipped by 1.5% year-on-year to EUR 11.314 billion, falling for the first time in close to two years. Imports dropped by 18.9% to EUR 10.606 billion, declining for the fifth month in a row.

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Trade with other European Union member states accounted for 77% of Hungary’s exports and 70% of its imports during the month. In January-August, Hungary’s exports increased by 8.9% year-on-year to EUR 100.020 billion, while imports fell by 3.2% to EUR 94.390 billion. The trade surplus reached EUR 5.630 billion.

Budget deficit narrows to HUF 3,264.9 billion in September

Hungary’s cash flow-based budget deficit narrowed to HUF 3,264.9 billion (EUR 8.4 billion) at the end of September on a surplus of HUF 33.7 billion for the month, the finance ministry said in a first release of data on Monday. The central budget deficit reached HUF 3,266.0 billion at the end of September and the social security funds were HUF 135.7 billion in the red. Separate state funds had a HUF 136.7 billion surplus.

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