Hungary
Thousands join Hungarian opposition protests against austerity measures
Protest against the government’s tax amendment and utility price increases was the first large gathering of the opposition that is reeling from its worst election loss since 2010.
FDI in CEE: It’s about Russia, inflation and populism
After February 24, when the first Russian tanks rolled into Ukraine, looking at a map of Europe is no longer what it used to be.
EC takes Hungary to court over LGBT regulation, launches new infringement procedures
The CJEU said the LGBT regulation, dubbed the child protection law by Hungary, violates internal market rules, the fundamental rights of individuals and EU values.
COMMENT: The Hungarian state has poured so much money into the start-up ecosystem that it has drowned
Despite huge state support (often funded by the EU) the market value of the Hungarian startup ecosystem is estimated at only 0.9% of GDP.
Hungary’s automotive industry rebounds in May
Headline industrial output increased by 9.4% y/y in May, with automotive output up 8.7%.
Hungarian government declares energy state of emergency, tightens utility price cap rules
From August 1, regulated energy prices for households will apply only to electricity and gas consumption up to the national average.
Hungarian central bank hikes base rate by 200bp at non-rate setting meeting
Base rate hits 9.75% but is expected to rise to up to 13% by the end of the year to lower inflationary expectations and defend the forint.
Germany’s ZEW Index collapses as fears of gas rationing mount
Germany’s leading economic index, the ZEW, collapsed in July as fears mount that Russia will cut the country off from gas entirely at the end of this month, and that could spark a major economic crisis, Oxford Economics reported on July 12.
NEMETHY: The riskiest macroeconomic environment of the 21st Century!
In my opinion, the macro environment is riskier than before the Dotcom Bubble and before the Great Financial Bubble. Why? A nasty cocktail of factors which may reinforce each other:
Hungary ready to make concessions for RRF funding
Government implicitly accepts EU's stand against Hungary's rampant corruption and stops pretending that halt to funding was due to its stance on LBGT rights.
Hungary’s June CPI climbs to 11.7%
Investors now expect the base rate well above 10%, with forward rates rising to 12-13%.
bneGREEN: The need for nuclear in the energy transition
Nuclear is set to make a "comeback," with capacity forecast to double between 2020 and 2050 from 413 GW to 812 GW, the IEA said.
Hungarian central bank scrambles to prop up sinking forint
MNB hikes its one-week deposit rate by 200 bps to 9.75%, and strongly hints it would raise the base rate at its next meeting on July 12.
RADIOACTIVE: Central Europe remains highly exposed to Russian uranium
Europe’s nuclear power sector is starting to worry about its fuel stocks as Russia’s invasion of Ukraine is calling into question the security of uranium supplies and processing services provided by Russia.
Emerging markets see $4bn of outflows in June as global recession fears grow
Pockets of weakness persist in emerging markets where real interest rates are deeply negative – and risks for those countries are rapidly mounting.
Tougher times ahead for Emerging Europe
With no end to the Ukraine war in sight, spiralling inflation is set to drag down growth across Emerging Europe in the second half of 2022 and into 2023, wiiw’s latest forecasts say.
Hungary’s industry held back by supply woes in May
The output of Hungary's industrial sector increased by 9.4% y/y in May.
Hungarian central bank steps in to halt forint slide
Hungarian National Bank's verbal announcement halts forint rout but worries remain over external vulnerability.
bneGREEN: Has green energy had its day?
Global efforts to combat climate change are being endangered by the global COVID-19 pandemic, the war in Ukraine and the current energy crisis.
US and Chinese slowdown will tip the world into recession, says IIF
The worsening economic data coming out of the US and yet another coronavirus lockdown in China will tip the world into a global recession, the Institute of International Finance (IIF) said in a note on July 1.
