Hungary
Hungary aims to double geothermal energy use by 2030
Hungary already uses geothermal energy as a clean alternative to fossil fuel in district heating, but has vast untapped reserves.
AI and cybersecurity to drive CEE tech sector
PwC and CEE Digital Coalition believe the Central and Eastern Europe region has the potential to create the EU’s Silicon Valley.
Cordia launches €1bn waterfront residential project in Budapest
Cordia will build more than 2,500 homes on the 14-hectare brownfield site in the coming years.
Shutdown of controversial far-right conference in Brussels triggers debate over free speech
The conference demonstrates the spread and rise of the radical right, which could become the third largest force in the European Parliament in June.
Automotive sector output in Hungary edges up 1.6% y/y in February
Headline industrial output rose 1.8% in February, increasing for the first month in about a year.
Hungary attracts Southeast Asian guest workers in growing numbers
At the same time CEE workers leave because of Hungary's low wages.
Hungary’s election committee clears Magyar’s bid to run in EP election
The former Fidesz insider has shaken up the political status quo as he is now polling at 14-15%, in third place.
CEE falling inflation trend comes to an end
After spiking to 20-year highs thanks to the pandemic and Europe’s Russian induced energy crisis, inflation rates across the EU have tumbled in recent months. That trend has ended and CEE central banks are expected to hike rates again in 2H24.
Hungary announces postponement of investments to meet new deficit target
Analysts calculate that the postponement of HUF675bn (€1.73bn) of state investments will not be enough and that some HUF1.1 trillion of fiscal consolidation is required to keep the revised target of 4.5% of GDP this year.
Viktor Orban blasts Migration Pact as "another nail in the coffin" of EU
"The MigrationPact is another nail in the coffin of the European Union. Unity is dead, secure borders are no more. Hungary will never give in to the mass migration frenzy! We need a change in Brussels in order to StopMigration!" Orban said.
MOL opens largest green hydrogen plant near Budapest in CEE region
Hungarian oil and gas giant MOL has inaugurated one of Europe's largest green hydrogen plants and the biggest in CEE to support refinery operations at its facility south of Budapest from a €22mn investment.
Hungary’s CPI edges lower, but price pressures remain in service sector
Consumer prices in Hungary rose 3.6% y/y in March, but services' prices rose almost 10%.
COMMENT: The Three Seas Initiative's digital imperative
While digital infrastructure in the region is growing, support infrastructure designed to handle the growth in demand is what requires investment.
IEA: Methane emissions at an all-time high need to be reduced by 75% by 2030 at a cost of $170bn
Methane emissions are 80 times more damaging than carbon dioxide. Rather than falling, they are currently at an all-time high and rising. The IEA says they need to fall by 75% by 2030 if the Paris Accord targets are going to be met.
The EU is preparing a new, fourteenth package of sanctions
The EU is preparing a new fourteenth package of sanctions that is slated for adoption in the coming months, but is unlikely to introduce any new products and will focus mostly on enforcing the existing thirteen rounds of sanctions.
E.ON building big solar farm for BMW's Hungarian EV plant
BMW is building a €1bn vehicle plant and a €1bn battery plant in Hungary's fastest-growing industrial hub.
Where Nato has an enhanced forward presence
On Monday, 8 April, Germany sent an advance team of 20 soldiers to Lithuania, laying the groundwork for the recently discussed establishment of a permanent brigade in the Nato country, Statista reports.
Europe exits the winter heating season with record gas stocks
The EU has exited the heating season with a record volume of gas in storage, following another mild winter and as a result of reduced industrial demand and a concerted effort by policymakers to boost stockpiles.
Grid bottlenecks on the way in Europe?
A new analysis by the energy think-tank Ember has found that several countries in Europe could soon face bottlenecks in their national transmission energy grids, as more solar and wind power will be generated than these networks have capacity for.
Summer starts as EU gas tanks start to fill again
Winter is over, as the EU gas tanks switch from withdrawals to filling mode again in preparation for next winter. Injection into the gas tanks started on April 1, a week earlier than in 2023 and started at an all-time high record level of 59.3% full.