Hungary is facing a financial and solvency crisis for the third time in the past six years. The exchange rate of the forint is weakening, interest rates are rising, and government securities can hardly be sold or can be done so at horribly high yields. The causes of the three cases are different.
The recently published medium-term forecast of GKI reveals, among others, that following an average annual decrease of 1.6 per cent in the 2008-2010 crisis period, GDP will return to the level of the previous three years in 2011-2013...
According to the forecast of GKI Economic Research Co., in 2011 the government was finally forced to do what it wanted to avoid, and to implement a program envisaging some structural changes...
“The EU doesn't assist member countries in overcoming the economic slump because it punishes those who behave well and rewards those who perform poorly,” said the Hungarian prime minister at a last week’...
According to Hungarian companies, the number of bankrupt businesses will slightly rise this year as well, following an all-time high of last year. They expect a particularly strong wave of bankruptcies in trade and in vehicle...
According to the figures of the Hungarian Financial Supervisory Authority, with the final payback of FX loans in one instalment at a fixed exchange rate, 160 thousand contracts with a total amount of more than HUF1200 billion...