Hungary
S&P warns of significant fiscal impact from Hungarian government's pre-election tax cuts
S&P Global Ratings warned that the government's measures of extending PIT exemptions to families and increasing welfare spending before the 2026 elections pose serious economic risks.
Relief in Emerging Europe at AfD’s election defeat, but concern over party's gains
Mainstream politicians across Central and Southeast Europe have expressed relief at the outcome of Germany's general election, which saw the far-right Alternative for Germany make gains but ultimately fall short of securing victory.
Hungarian judges demonstrate for freedom of judiciary
Thousands of judges and court workers held a demonstration in Budapest on February 22 for the freedom of the judiciary, organised by the Hungarian Judiciary Association (MABIE).
Hungary set to block extension of EU sanctions against Russia, citing peace talks
Hungary will not vote in favour of extending sanctions against Russian and Belarusian individuals at the upcoming meeting of the EU's Foreign Affairs Council, arguing that it would hinder US-Russian peace talks.
EU endorses Hungary's revised medium-term fiscal plan
The European Council has endorsed Hungary's medium-term budgetary plan, which outlines a path for deficit reduction but reflects a more cautious economic outlook, National Economy Minister Marton Nagy announced after the Ecofin meeting.
EU Parliament joins lawsuit against Hungary over controversial Sovereignty Law
The European Parliament legal committee voted on February 18 to join the lawsuit against Hungary in the European Court of Justice regarding the controversial sovereignty protection law adopted in late 2023.
Ukrainian drone strikes Kazakhstan’s main oil export pipeline route in Russia
Attack comes on same day Hungarian and Kazakh top diplomats back idea of Ukraine conflict talks between Putin and Trump.
Hungarian e-commerce platforms falling behind regional peers on local turf
The Hungarian e-commerce market grew by 15% to HUF1.92 trillion (€4.8bn) in 2024, while sales generated by Hungarian and EU-based retailers increased at a slower pace, rising 10% to HUF1.6 trillion.
Hungary's opposition leader kicks off campaign at Tisza Party’s first congress with sweeping reform pledges
Peter Magyar, the leader of the opposition Tisza Party, delivered a scathing critique of the current political establishment and presented some clues to his party's election programme, with a focus on tackling the cost-of-living crisis.
COMMENT: Upside inflation risks build across CEE
Inflationary pressures across Central and Eastern Europe (CEE) are intensifying, with higher-than-expected consumer price index (CPI) data prompting a shift in monetary policy expectations across the region, says Capital Economics.
BMW sets date for launch of serial production at Hungarian plant
Serial production at BMW's €1bn plant in Debrecen, eastern Hungary, will start in the autumn, Minister of Foreign Affairs and Trade Peter Szijjarto announced on February 13 after meeting with company executives.
German automotive industry crisis hits Hungarian suppliers
German-based automotive supplier ZF Hungary has announced plans to axe 110 jobs at its Hungarian base, citing the downturn in the European automotive sector and declining orders.
Viktor Orban breaks taboo by hosting AfD’s Alice Weidel in Budapest, analysts react
Hungarian Prime Minister Viktor Orban defied a long-standing taboo by inviting Alternative for Germany co-leader Alice Weidel for an official meeting in Budapest.
Hungary ranked most corrupt country in EU in Transparency's CPI index
Hungary has retained its ranking as the European Union's most corrupt country for the third year in a row, according to the 2024 report released by Transparency International.
Hungary's leading fertiliser producer seeks bond payment deferral amid financial struggles
Hungary's largest fertiliser producer Nitrogenmuvek is proposing a 2-3 year delay to bondholders in repaying the $200mn corporate bonds due to mature in May 2025,
Hungary's January inflation soars to 5.5%, 0.7pp above forecast
Hungary's January inflation surprised analysts by accelerating more than expected, with the annual rate jumping from 4.6% to 5.5% (chart), driven by the rise in food prices and higher tax levies.
Hungary marks the first anniversary of Clemency-Gate and the ascent of opposition leader Peter Magyar
Hungarian opposition leader Peter Magyar is commemorating the first anniversary of the social media post that sparked his political transformation, propelling him from an insider within the Fidesz ecosystem to Viktor Orban’s foremost challenger.
Hungary's Economy Minister hints at reintroducing price caps amid rising inflation
National Economy Minister Marton Nagy in a social media post on February 10 has hinted that the government may reintroduce price caps to protect households from rising prices.
Viktor Orban references ‘great replacement’ and ‘Reconquista’ in speech at European radical right-wing gathering
The summit of the Patriots for Europe group in Madrid was a huge demonstration of strength, a powerful parade of troops from a new European right, according to Fidesz commentators after the gathering of radical-right-wing, Eurosceptic parties.
Hungary’s atomic energy watchdog orders partial halt of construction at Paks NPP expansion site after incident
Hungary's National Atomic Energy Authority has ordered a partial halt to construction at the Paks II nuclear power plant after a section of the southern wall of the excavation pit collapsed.