In March, retail sales in Hungary exploded due to a combination of factors. Retail sales in March grew by an annual 16.2% according to adjusted and unadjusted statistical data.

Industrial producer price inflation rose to an annual 25.9% in March. The domestic price level even rose by around 40%, twice as fast as in the export business.

MAM Zrt. and Raiffeisen Bank has signed a EUR 65 million (HUF 24 billion) loan agreement. The project will be completed by 2023 and will bring new life into the Radetzky Barracks on Budapest’s Bem tér.

Hiventures invested nearly HUF 22 billion (EUR 58.35 million) in companies last year. The capital fund manager belonging to the MFB Group exceeding its annual target and breaking its own previous record.

The integrated oil and gas company, MOL builds one of the largest-capacity green hydrogen plants in Százhalombatta, Hungary.

After the two-week shutdown at Tungsram’s plants in mid-April, the company will cease production of conventional lighting. By the end of the year, the company will lay off 1,600 people at all five production sites in Hungary.

The price cap on fuel and certain food products will remain in place until July 1. The main reason being the war, and until the war is over, prices will continue to rise.

Hungary has opened a new chain of stores, the German chain TEDi in Budapest, in the 11th district, Savoya Park. It already has stores in Pápa and Székesfehérvár in Hungary.

UPS Healthcare division has expanded its Budaörs headquarters with 13,000 square meters of warehouse space. UPS Healthcare Hungary Zrt. has 37,000 square meters for storage of temperature-sensitive medicines and biologics.

Hungary and Poland will achieve the highest GDP growth in the Central and Eastern European region this year, according to the World Economic Outlook (WEO) published by the International Monetary Fund (IMF).