07.09.2021 Consultation on the minimum wage in 2022

On 7 September 2021, the National Association of Workers’ Councils, a participant on the employees side at the Permanent Consultation Forum of the Competition Sector and the Government (VKF), held a consultation on the current practice of minimum-wage setting and on issues around a pending new agreement on minimum wages.

The talks were prompted by a government proposal to raise the national minimum wage by nearly 20 percent in 2022, and to create a new medium-term minimum wage agreement. Éva Palócz, director of Kopint-Tárki, participated in the macroeconomic roundtable at the meeting.

Download the conference program here. (Hungarian) Articles in the press here. (Hungarian)

28.04.2021 First place of Kopint-Tárki in forecasters ranking

Kopint-Tárki’s forecasters, Zoltán Matheika and Éva Palócz, took first place in the MNB-Reuters forecasting competition!

In the competition, which is now being held for the 8th time, the participating forecasters (31 analysts in 2020) provide monthly forecasts on the expected development of the main macroeconomic, fiscal and monetary indicators of the Hungarian economy. The submitted monthly forecasts are evaluated by MNB-Reuters staff based on how close they were to the actual annual data.

We are proud that Kopint-Tárki’s colleagues have won the  first place in this excellent competition this year.

26.04.2021. Policy responses from governments and social partners to the COVID-19 pandemic

As part of a series on working life issues and the COVID-19 pandemic Eurofound has published the article “Policy responses from governments and social partners to the COVID-19 pandemic”. KOPINT-Tárki’s analyst scored through European responses to COVID-19, comparing measures aimed at cushioning the impact of the crisis on society, the economy and the labour market. In some countries, unemployment was allowed to run high while re-training and temporary benefits were extended, elsewhere, retaining jobs was a priority. The involvement of social partners in policy design fell by the wayside almost everywhere in the midst of the sudden crisis.

The article relied on Eurofound’s frequently updated database on government policies in EU member states during the pandemic, which can be found here: COVID-19 EU Policy watch.

25.04.2021 Kopint-Tárki’s report “Economic Trends in Eastern Europe, 2021/1” about the economic situation and prospects in Eastern Europe and Hungary, was published

The world economic situation improved in the last quarter of last year, despite the new wave of the pandemic. The global short-term outlook is moderately positive, albeit not in every respect, mainly due to general fiscal stimulus. The Hungarian economy may expand by 4.5% in 2021 after last year’s 5% contraction. The performance of the economy will certainly be negative in the first quarter, but the second quarter will bring significant growth, largely due to the base effect. By the second half of the year, the state of the economy could consolidate, provided there is no further serious wave of the pandemic.

The report can be downloaded in English here.

04.04.2021 Manufacturing sentiment index in April 2021

Based on the objective and subjective indicators of our business sentiment survey the Hungarian manufacturing entrepreneurs are moderately optimists.

In last March the prospects were gloomy but later it became clear that the manufacturing industry is able to operate during lockdown. The stock of orders, as well as capacity utilisation are still high.

Inventories are a bit low, thus restocking may also increase production. There is a temporary easing in skilled labour shortage, however that might cease when the services will begin operation. Most companies have not applied for any form of financial aid in the past year, however the gap between the small and large enterprises is still considerable.

The report can be downloaded here.

16.12.2020 The World Economic Forum (WEF) published its 2020 report

The presentation outlines the findings of the reports written by Kopint-Tárki to the Fiscal Council in 2020 about the state of the global economy, international trade and the Hungarian economy, wich a focus on the economic consequences of the COVID pandemic. The studies highlight and closely analyze the fiscal impact of the crisis, the rapid growth of pubic debt ratios, both globally and in Hungary. 

Link to conference and the presentations in Hungarian: https://www.mkt.hu/hu/2020/12/21/mkt-kt-konferencia-podcast-es-letoltheto-tanulmanyok/

10.12.2020 Eurofound database on the policy responses of member states to the COVID-19 crisis expanded

Euforound launched its database about the coronavirus-related measures – the COVID-19 EU Policy Watch – in March 2020. The database collects information about the reactions to the coronavirus pandemic by governments, social partners and enterprises. Our institute provides data about the Hungarian policy responses.

The database, updated continually, is available through the link below, with various filtering options: COVID-19: Policy responses across Europe