Hungary

Labour costs in Western Europe still four times higher than in Romania and Bulgaria

Iulian Ernst in Bucharest March 28, 2024

Bulgaria has the EU's lowest labour cost, while Romania still lags well behind Poland and Hungary.

Former Fidesz insider presents damaging evidence to prosecutor's office in high-profile corruption case

bne IntelliNews March 28, 2024

Peter Magyar posts secretly recorded conversation with his ex-wife and former justice minister Judit Varga, indicating high-ranking government officials manipulated evidence in a major corruption case.

COMMENT: Overheating in Russia and Turkey, but CEE recovering

Ben Aris in Berlin March 27, 2024

The economies of Central and Eastern Europe (CEE), which experienced a period of stagnation last year, are poised for a modest revival in 2024, but both the Russian and Turkish economies are already overheating.

Romania's GDP per capita surpassed Hungary's in 2023

bne IntelliNews March 27, 2024

Romania has been catching up with the EU average faster than Hungary, which fell into recession in 2023.

Hungarian central bank cuts base rate by 75bp to 8.25%

bne IntelliNews March 27, 2024

Policymakers had discussed three options, a 50bp, 75bp and 100bp cut, and decided unanimously on the 75bp one, deputy governor Barnabas Virag said after the rate decision.

Bolsonaro sought refuge at Hungarian embassy to escape justice

Tamas Csonka in Budapest March 26, 2024

It is not the first time Orban has meddled in the affairs of foreign countries and sought to help his allies escape justice.

Hungarian government officials threaten retaliation against Spar criticism

Tamas Csonka in Budapest March 22, 2024

Spar will pay the price for its baseless and unfair accusations against Hungary, according to Minister for Construction and Transport Janos Lazar.

Magyar accuses Orban’s inner circle of tampering with evidence in high-profile corruption case

Tamas Csonka in Budapest March 21, 2024

New opposition figure says he has gathered evidence that could lead to the fall of the Orban government.

Venice Commission says Hungary’s sovereignty defence act violates international standards

Tamas Csonka in Budapest March 20, 2024

Advisory body to the Council of Europe says Orban regime's ban on foreign political funding much too broad.

A surprise EU proposal to expand agricultural ”emergency brake” import restrictions will cost Ukraine €1.7bn

Ben Aris in Berlin March 19, 2024

EU countries have overnight agreed to impose new restrictions on Ukrainian agricultural imports that will cost the cash strapped country €1.7bn and hurt its ability to fight the war against Russia.

KYIV BLOG: EU finalises €5bn Ukraine Peace Fund contribution that will see little new money sent to Kyiv

bne IntelliNews March 18, 2024

EU ambassadors agreed to back a new €5bn Ukraine Assistance Fund on March 13, part of the EU's off-budget European Peace Facility (EPF) that is used to partially reimburse member countries for the weapons they provide to Ukraine.

Europe has €56bn shortfall to meet Nato 2% of GDP spending pledge

bne IntelliNews March 18, 2024

European nations within Nato are facing a €56bn shortfall in meeting the alliance's defence spending pledge of 2% of GDP this year, the Financial Times reported on March 16.

Former Fidesz insider draws tens of thousands for protest against Orban regime

Tamas Csonka in Budapest March 18, 2024

Magyar drew an estimated 30-40,000 people, compared to Prime Minister Viktor Orban’s 20,000 on day of commemoration of 1848 revolution.

Hungarian government may reconsider amendments to Central Bank Act

Tamas Csonka in Budapest March 15, 2024

Government may be preparing to retreat due to reactions in the financial markets to perceived threat to central bank independence.

Illiberal axis between Budapest and Balkans threatens regional stability, analyst warns

Clare Nuttall in Glasgow March 15, 2024

Hungarian PM Viktor Orban’s close ties with leaders of Serbia and Bosnia’s Republika Srpska have encouraged nationalism and authoritarian tendencies with negative consequences for stability, says paper published by EPC.

Former Fidesz insider calls political rally to topple Orban

Tamas Csonka in Budapest March 14, 2024

Peter Magyar, who burst into the public eye over the Fidesz paedophile pardon scandal, has made incendiary comments about the inner workings of the government.

VISEGRAD BLOG: Governments battle central banks in Poland and Hungary

Robert Anderson in Prague March 14, 2024

The apparent threats to central bank independence are now worrying markets and the European Central Bank.

Hungary signs agreement with UAE on construction of €5bn city centre 'mini-Dubai' in Budapest

Tamas Csonka in Budapest March 14, 2024

The plan would transform a 130-hectare train station yard in a northern part of the capital into a new city quarter with tourism, economic, business and sports functions.

Hungarian government abandons 4% growth target

Tamas Csonka in Budapest March 13, 2024

Hungary’s economy contracted 0.9% in 2023, ranking the country among the laggards in the EU.

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