Forint Depreciation To Hit PC And AV Sales Hardest In 2015
Banks must pay the 7 percent charge in
forints by December 20 this year.
Let us see how long the government can keep the warm positive feeling towards
forint assets going.
The depreciation of the
forint during June against both the EUR and the CHF, however, more than ate up the interest rate advantage, and there continues to be a distinct risk that, if the HUF fails much further, many private Hungarian borrowers and banks could get into serious trouble.
Due to the steep fall in crude prices it had to book a total of 102 billion
forints in replacement and impairment costs on inventories, which weighed on its operating results.
The weak
forint pushed Hungary's government debt to 82 percent of economic output by the end of the third quarter, undoing the impact of Orban's $14 billion pension asset grab.
The
forint traded around 231 against the franc on Friday, having weakened significantly from rates of 150-160 seen when most of the loans were extended.
For this reason, the Government had decided to increase the benefits and tax allowances relating to accommodation provided by employers, thus facilitating workforce mobility from regions where the level of unemployment is still higher than average, he recalled, adding that in addition, a 5 billion
forint (EUR 16.
Global Banking News-April 13, 2015--Hungarian central bank says
forint liquidity increased in March
The rating agency argues that although the measures will support new
forint lending, the risk related to the existing portfolios will remain.
