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11th May, 2017

Pension and health funds growing

Voluntary health and pension funds reported substantial year-on-year growth in assets in the first quarter, according to figures from the voluntary funds association Oposz

Pension funds saw an 8.5% rise in their assets to Ft 1.187 trillion, while holdings of voluntary health funds expanded by 6.4% to Ft 47.4 billion.

Employers contributions to the voluntary funds dropped considerably in the first quarter, due to regulatory changes affecting fringe benefits effective from January 1, Oposz president Gabor Kravalik pointed out.

On the other hand, contributions by members rose significantly, he added.

Members paid Ft 16.3 billion to voluntary pension funds, up 11.4%, while employers paid Ft 7.4 billion, a 7.6% drop.

Members increased their payments to voluntary health funds by 51%, to Ft 3.5 billion, while employer contributions were 35% lower, at Ft 3.2 billion.

In order to attract more payments from employers, Oposz is advocating additional tax allowances for members if they match employers contributions. (napi.hu)
11th May, 2017

Inflation down to 2.2% in April

Inflation fell to 2.2% year-on-year in April from 2.7% in March, the Central Statistics Office announced on Wednesday morning.

This was in line with average forecasts of 2.2-2.3%, business website Portfolio adds.

The lower inflation last month is largely a result of a considerable rise in fuel prices in April of last year, increasing the comparison base, the website adds.

Fuel prices were 10.7% higher, year-on-year 1.4% lower than in March, the latter due to a cut in the excise tax, Central Statistics Office analyst Borbala Minary highlighted.

Core inflation, which leaves out fuel and seasonal food prices, rose slightly to 1.9% in April, from 1.8% in March. (portfolio.hu)
11th May, 2017

More tourists in March

The number of guest nights spent at commercial accommodation in Hungary was up 4%, year-on-year in March, at 1.8 million, the Central Statistics Office announced yesterday.

Foreigners accounted for 946,000 guest nights, an 8% rise, while domestic guests spent 860,000 nights in accommodation, a decline of 0.1%.

Guest nights spent by Russians were a whopping 50.9% higher. There were significant increases of 24.6% in nights spent by Italian guests, 17.8% by French visitors, and 16% by Romanians.

The number of guest nights spent by Austrian and German visitors dropped by 9.23% and 2.3%, respectively

For the first quarter, the number of guest nights was up 6.6% to 4.6 million. Foreigners spent 10% more nights, a total of 2.04 million, while domestic guests spent 2.9% more, hitting 2.224 million. (magyarhirlap.hu)

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