Pledge made at virtual summit as Washington seeks to counter Chinese influence in Central and Southeast Europe.
Hungary’s right-wing government — which has openly endorsed Donald Trump in the US presidential race — was angered by the Democratic nominee’s rule of law criticisms and comparison of Hungary and Poland to Belarus.
After two and half decades as members of the EU, the leading four Central European countries of Czechia, Hungary, Poland and Romania are pulling ahead of their peers, but remain vulnerable thanks to their reliance on the automotive sector.
Prime Minister Viktor Orban hinted that Hungary may block approval of the EU's pandemic recovery fund if payouts are linked to rule of law issues.
The lockdown hit the hotel branch of Hungary’s second richest man Lorinc Meszaros' flagship holding company Opus Global, but state contracts in construction more than compensated for the decline.
CEE economies have weathered the crisis better than their western peers, but a second wave threatens to stifle demand and add to political volatility.
The EU’s credibility was on the line as delegates met on October 1 in Brussels for a two-day summit to discuss a slew of headaches plaguing the Union.
The coronavirus pandemic has had a seismic effect on the real estate sector, and the office segment is no exception.
Latest scuffle between Hungary and the EU comes as the European Commission prepares to publish its first report assessing the state of democracy and the rule of law in member states.
Acceptance of migrants has declined globally, and the nations of the Western Balkans that bore the brunt of the 2015-2016 migration crisis are now the least tolerant in the world, a new Gallup poll shows.