The systemic decline of oil prices since the autumn of 2013 has obviously shaken financial markets all over the world and led to diverse consequences. First, consolidation processes that followed the global economic crisis and falling consumer prices caused by oil market turbulences have pushed investors towards safer instruments, such as government securities. Second, while public finances have benefited from subsequent lower prices and lower interest rates, the private sector has not met with higher market demand. Third, while stock market indices have usually mirrored the turmoil triggered by oil market havoc, the BUX -- the leading index of the Budapest Stock Exchange – has proven to be an exception.Its gains have been remarkable not only from a regional but also from a global perspective, and they have not been limited only to recent months but they have been outstanding also over a multi-year time horizon. This good performance is a clear sign of steady Hungarian economic growth and the progress that the economy has made in mitigating structural vulnerabilities.

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(Ministry for National Economy)