Workday-adjusted industrial output was 0.6 percent higher in March 2012 than the year before, whereas on the basis of seasonally- and workday-adjusted statistics in the third month of the year output was 0.6 percent higher than in the previous month. Unadjusted data signal a decline of 1.6 percent in industrial production. For the future a very positive piece of data is the 17.1 percent year-on-year increase of new orders in the surveyed month.
Earlier today the government has submitted to the National Assembly the bills about the implementation of the telecom tax, the financial transaction duty and the uniform insurance tax.
The Government has decided to scrap the banking tax and other sectoral crisis taxes; as of the beginning of 2013, one half of the banking tax will be retained in the system, while as of 2014, this tax will be abolished altogether, Minister for National Economy György Matolcsy said on Wednesday at the Government Spokesperson’s press conference.
The Eurostat has recently published its fiscal statistics concerning the EU member countries. In light of these the favourable Hungarian figure is analyzable in international comparison and thus we can state that Hungary has achieved an outstanding result in 2011 with regard to the indicator that is most closely observed by investors.
In Q1 2012 the dynamic increase of the number of employed continued in comparison to the corresponding period of the previous year – the Central Statistics Office (KSH) reported in its latest survey. The number of jobs among the population aged 15-74 years increased significantly by 59 000, more than in the previous quarter, from 3 732 thousand the year before to 3 791 thousand. Consequently, the rate of employment rose to 49.5 percent from the 2011 level. The number of employed among the population aged 15-64 increased from 3 701 thousand in the previous year to 3 756 thousand, by 55 000, and the rate employment thereby increased to 55.7 percent.
With the Széll Kálmán Plan 2.0 Hungary has complied with the requirements of the Council of the European Union, and the excessive deficit procedure related to the country can be resolved after years of failure to meet targets up until last year’s success.