A collection of 372 posts
The European Commission’s deadline on assessing Hungary’s Recovery and Resilience Facility (RRF) plan expires today, July 12. According to Brussels-based Politico and various German news outlets, the Commission, dissatisfied with the commitment of Hungary’s government to fight corruption, has submitted further questions to the Hungarian government. Hungary
Hungary’s government faced a barrage of criticism from officials in Strasbourg this week over a law that bans content “promoting homosexuality” to minors, but there are also concerns over a lack of safeguards to prevent corruption. Some are even suggesting that Hungary’s portion of the EU stimulus package
Inflation may pose a real threat for countries in Central & Eastern Europe (CEE), specifically for Poland and Hungary, which are facing post-pandemic economic pressures. That’s why their economies do not appear as shiny as they used to. Hungary saw a recent inflation rate of 5.1%, while Poland’
Since Viktor Orbán became the prime minister of Hungary, cooperation among the “Visegrád 4” (V4) countries – Hungary, Slovakia, the Czech Republic and Poland – has become a key ingredient of the Hungarian government’s rhetoric. Now, with Hungary taking over the presidency of the Visegrad Group, the country is keen to
Meeting in Warsaw, finance ministers from the “Visegrad 4” (V4) country grouping – Poland, Czechia, Hungary, and Slovakia – discussed post Covid-19 economic recovery plans and investments. They welcomed the global minimum tax proposed by the G7 but said they prefer an international solution in the Organisation for Economic Cooperation and Development
In a heated debate on Thursday night, Hungary’s prime minister Viktor Orbán was confronted over recent anti-LGBTQ+ measures by his fellow heads of state and governments. Diplomatic sources say those leaders spoke in unusually personal and emotional terms for an EU summit discussion. Luxembourg’s PM Xavier Bettel spoke
To curb inflation, the Central Bank of Hungary (MNB) on Tuesday raised its base rate by 30 basis points to 0.9% from 0.6% – slightly exceeding forecasts. Via this move, Hungary may be the first EU member state to initiate a cycle of rate hikes aiming to combat growing
On Tuesday, Hungary’s parliament passed a so-called pedophile law, which critics say is actually directed at the LGBT community and also restricts freedom of expression. Introduced by the ruling Fidesz party which has a two-thirds majority in parliament, the legislation includes a public register of convicted sex offenders and
Global warming will not only wreak havoc on the global economy but could also result in dire economic consequences for Hungary and other countries in Central & Eastern Europe. G7 economies, for example, could lose USD 5 trillion a year, or 8.5% of their GDP by 2050, if global
Shortly following the monumental changes to their governmental systems and economies, countries in Central & Eastern Europe did see their wages grow steadily – but over 30 years later it is apparent that average employee pay in the region can still be even half of that seen in the West of
As in most countries in Central & Eastern Europe (CEE), the competitiveness of the Hungarian economy heavily depends on car production. In recent years, however, the sector has had to face challenges like the potentially growing market of electric cars, as well as the COVID-19 pandemic. New European climate and
Several European “green” initiatives have provoked resentment in Hungarian government circles. The outrage is mainly due to the European Parliament having failed to endorse a European Council proposal on a reform of the Common Agricultural Policy (CAP) for the period 2023-2027. The debate is over the greening of direct payments
The net sales of Hungary’s MVM Group amounted to HUF 1,835 billion last year, which is EUR 71,8 million higher than in 2019 and an increase of 91% compared to 2016, János Sum, Deputy Chief Financial Officer of MVM Zrt said told the press. Other numbers are
Central Europe’s largest solar plant has been inaugurated in Kaposvár, southwest of the Hungarian capital Budapest. The 100-megawatt solar power plant was built by China National Machinery Import & Export (CMC), a Chinese company investing HUF 36 billion. The Kaposvár solar power plant increases Hungary’s photovoltaic capacity by
Pushed through by state secretary Norbert Izer and communicated by the Ministry of Finance as a success story, Hungary has reduced the tax rate on cryptocurrencies from 30.5% to 15%. The announced tax reform has, to some extent, been triggered by rising prices, although – independent of the government’s