According to the President of the Fiscal Council in Hungary, the country is capable of meeting the necessary requirements for adopting the euro by the end of 2024. The President of this body made his statement on the topic of adopting the euro in Hungary during a meeting of the Fejér County Chamber of Commerce and Industry. He emphasized that the consumer price index, which was 25.4 percent in February, is expected to decrease to approximately three percent by the summer of 2024.
Is Hungary considering the adoption of the euro in the near future?
Public
Hungary
Author: Kristina Dosen
Category:
Fiscal subject related
General information
Views:
935
Content accuracy validation date:
01.06.2023
Content accuracy validation time:
08:13h
Content
Additionally, it is projected that Hungary's public debt will decrease to below seventy percent by the end of the following year, and the general government deficit will be around 2.9 percent. The Fiscal Council in Hungary also provided a positive economic forecast, suggesting that Hungarian GDP is expected to grow by approximately one percent this year and between 3.5 and 4 percent next year. With inflation expected to drop below ten percent by the end of this year, a more favorable, lower inflation environment is anticipated during 2024.
It is worth noting that the adoption of the euro in Hungary has been a topic of discussion since the country's accession to the EU in 2004, but the government has not actively pursued it until 2010. This prediction is not officially declared in any documents or publications but rather is an approximate estimation of how this process may unfold in the coming years based on the current data.
Other news from Hungary
New document was uploaded: Digital Product Passport
Author: Kristina Dosen
Do you even know what DPP is? Digital Product Passports (DPP) are set to play a crucial role in the European Union’s commitment to a circular economy. The purpose of this document is to provide you with a necessary overview of the upcoming Digital Product Passport requirements set to be implemented by the European Union. Read more
The role of QR codes and encryption in the upcoming e-Cash registers in Hungary
Public
Hungary
Author: Kristina Dosen
Hungary
Author: Kristina Dosen
In Hungary, the updated decree on e-cash registers emphasizes the importance of QR codes and encryption to enhance transaction security. E-cash registers are designed to scan QR codes for multiple purposes, such as receiving encryption keys from customers' devices or capturing essential customer data for invoicing. This capability is critical for maintaining the integrity of transactions and ensur... Read more
What can we expect from the Hungarian Tax Authorities’ system in the e-cash register project?
Public
Hungary
Author: Kristina Dosen
Hungary
Author: Kristina Dosen
As Hungary introduces new e-cash registers, the Tax Authority (TA) unveils an advanced, user-friendly service for managing receipts that will come with it, the e-receipts. The system is designed to accept e-receipts submitted to the TA within a 0–24 hour window, ensuring a non-stop, seamless service for both businesses and consumers. In this digital leap, the e-cash registers will send only valida... Read more
New document was uploaded: Recorded webinar: The introduction of the e-receipts and new e-cash registers in Hungary
Hungary
Author: Kristina Dosen
On April 9, 2024, Fiscal Solutions organised a free webinar on the topic of "It’s time to grow together." The webinar was held by Fiscal Solutions Legal Consultant Tara Nedeljkovic and Technical Consultant Istvan Bozoki. Read more
New document was uploaded: The translated Draft Decree of the Minister of Finance on the distribution and operation of e-cash registers and the requirements concerning e-cash registers and th
Hungary
Author: Kristina Dosen
This document is a translation of the Draft Decree issued by the Hungarian Minister of Finance on the distribution and operation of electronic cash registers (e-cash registers) the requirements for e-cash registers and the issuance of electronic receipts (e-receipts). Read more
New document was uploaded: Draft Decree of the Minister of Finance on the distribution and operation of e-cash registers and the requirements concerning e-cash registers and the issue of e-re
Hungary
Author: Kristina Dosen
This document is a comprehensive draft decree issued by the Minister of Finance on the distribution and operation of electronic cash registers (e-cash registers) the requirements for e-cash registers, and the issuance of electronic receipts (e-receipts). Read more
Marked returnable bottles hit the shelves in Hungary. What do you need to know?
Hungary
Author: Kristina Dosen
The first bottles with special returnable marks appeared on store shelves in Hungary recently. These products have already been anticipated by environmentally conscious customers. For these goods, traders are obliged to charge a redemption fee of HUF 50. The fee (and a way to recognize such products) is clearly indicated on the price label of the product, both on the bottle and in the description below, so a customer can see which product is returnable. Read more