A collection of 49 posts
The government is currently discussing investments with 14 South Korean companies, Hungarian Foreign Minister Peter Szijjarto said after meeting his opposite number Chung Eui-yong and Trade Minister Yeo Han-koo in Paris on Wednesday. President Moon Jae-in will next month become the first South Korean head of state to visit Hungary
Small, export-oriented countries may lose out to larger economies if a “minimum tax” proposal from the Organisation for Economic Co-operation and Development (OECD) remains unchanged. The proposal, backed by some 130 countries, would introduce a 15% minimum corporate tax globally to end the current “tax race to the bottom,” a
The European Commission has recently approved a EUR 90 million subsidy offered by the Hungarian government to South Korea’s SK Innovations – one of the world’s largest energy and chemical companies – to support the establishment of its second battery plant in the city of Komárom in Hungary. According to
The United States and Germany issued a joint declaration in which the two countries agreed to complete Nord Stream 2 and voiced several initiatives to support Ukraine and counter Russian attempts to use energy as a weapon. They promised an extension of the agreement with Russia on gas transit through
Hungary’s Minister Heading the Prime Minister’s Office, Gergely Gulyás said that the Hungarian government finds the EU’s Fit for 55 package unacceptable and will not endorse it. Since unanimity is required, the package will not be accepted in its present form, he predicted. Government-funded thinktank Századvég wrote
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
The European Commission gave a positive assessment of Croatia’s recovery and resilience plan, worth EUR 6.3 billion, which could significantly boost the country’s GDP and create 21,000 new jobs by 2026. The positive assessment was personally delivered by EC president Ursula von der Leyen to Croatia’
In the EU’s Summer 2021 interim Economic Forecast, European Commission experts predict that the economies in the EU and euro area are set to expand by 4.8% this year and 4.5% in 2022. This growth outlook is significantly higher in the EU (+0.6 pps.) and the
The leaders of the EU are planning to funnel hundreds of billons of euros into sustainable investments each year through banks and markets to create the first “climate-neutral continent” by the middle of the century. The related plans announced in the EU’s sustainable finance framework detail the next steps
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’
Bulgaria’s real gross domestic product (GDP) is expected to grow by 4.5% this year and by 4.0% in 2022, stronger than previously expected, the European Bank for Reconstruction and Development (EBRD) announced. The main upside risks to the outlook are a stronger rebound of consumption amid high
The October elections in the Czech Republic could change the Czech government’s approach towards the EU’s climate objectives, which is currently very cautious. Similar to most countries in Central & Eastern Europe (CEE), the country is an underachiever in renewables, but it is gradually phasing out coal-fuelled power
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
The European Commission has approved the economic Recovery and Resilience Plan submitted by Slovakia, which was among the first EU member states to present how it intends to spend EUR 6.3 billion in Union funds on things like education, healthcare and the environment. EC president Ursula von der Leyen
Minimum wages are a make-or-break issue against in-work poverty and an important element of a single labor market. But instead of setting a mandatory pan-European minimum wage, the EU is striving for strengthening collective bargaining across member states against the will of multinational corporations in whose interests it is to