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Japanese Nissin Foods Announces HUF 4.3 bn Expansion in Hungary The local unit of Japan’s Nissin Foods will spend 4.3 billion forints (EUR 11.8m) to expand its instant noodle soup plant in Kecskemét, in central Hungary, Minister of Foreign Affairs and Trade Péter Szijjártó said on Thursday. The government is supporting the investment, which will preserve 320 jobs and create 20 new ones, with a 500 million forint cash grant, Szijjártó said. Nissin Foods Kft will add 20 percent to its instant noodle soup production capacity and triple its warehouse space, he added. The Central Statistic...

Used Car Prices Skyrocket Due to Pandemic As a result of the pandemic, the demand for used cars in the Hungarian car market has increased, and at the same time the average prices have also increased by 33 percent, according to a report conducted by Használtautó.hu. According to the site’s data, the increase in demand and the rise of prices did not stop in the used car market. Average advertising prices of 3.1 million forints (EUR 8,600) in December last year were already above 3.7 million forints (EUR 10,255) in March 2021. Moreover, compared to March 2020, an increase of almost 1 million...

One-third of Hungarians Planning for Vacation, Survey Found Around one-third of Hungarians say they are thinking of going on holiday this summer, Szallas.hu said on Tuesday, citing a survey conducted in cooperation with pollster Ipsos. According to Szallas.hu, Hungary’s easing of coronavirus-related restrictions has had a noticable impact on the figures, with reservations for the summer increasing daily. Szallas.hu PR manager Beatrix Trepess said that several times as many reservations have now been made as this time last year. Most respondents are planning to spend up to 100,000 forints (E...

Socialists Submit Bill on Making Minimum Wage Tax-exempt The opposition Socialist Party (MSZP) on Tuesday said it has submitted a bill to parliament that would make the minimum wage tax-exempt and reduce the income tax for low earners. Under the proposal, minimum wage earners would be eligible for a tax credit equal to the 15 percent personal income tax, Imre Komjáthi, the party’s deputy leader, said on Facebook. The tax credit would decrease for each higher wage bracket up to the median monthly wage of 321,000 forints (EUR 888) before tax, he said. The measures would help some 2.3 million...

How Much Do Hungarians Earn? More Realistic Data Revealed by Central Statistical Office The Central Statistical Office (KSH) published the data of monthly median wages in Hungary for the past two years. The median wage has been a shortfall in statistics for a very long time, however, the statistical office released a more detailed series of data connected to the indicator. What can be concluded from this is that half of all employees receive no more than three-quarters of the official average wage, and the data sheds light to a new picture regarding the wage situation in Hungary, The KSH has...