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Hungary needs to significantly narrow its budget deficit to make debt financing sustainable and to put the country on a path toward adopting the euro, Prime Minister Peter Magyar said.
Hungarian central bank Deputy Governor Zoltan Kurali said the government should follow through on the plan for euro adoption as it would help elevate the countryโs status in financial markets.
Contemporary Amperex Technolยญogy Ltd (CATL) has cleared all regulatory hurdles for its mega factory in Hungary, a development that analysts expect will help the worldโs largest producer of electric vehicle (EV) batteries extend its reach to international marques like BMW and Volkswagen. Production of battery cells at the โฌ7.3 billion (US$8.35 billion) plant in Debrecen, the second-largest city in Hungary, began on Tuesday after it fulfilled all preconditions for a trial run, the company said. It...
Schroders Plc is betting Hungaryโs push toward euro adoption will deliver fast convergence-trade gains as the countryโs government yields move toward those of peers already in the currency union.