Hungary

Hungary says it would veto EU’s Russian oil embargo in current form

bne IntelliNews May 5, 2022

Budapest still blocking EU consensus despite being offered extension until end of 2023.

Czechs join Slovakia and Hungary in demanding exemption from EU embargo on Russian oil

bne IntelliNews May 5, 2022

Heavily-dependent states will be allowed to buy Russian oil exports until the end of 2023, while other states have to cease crude deliveries in six months.

Hungary 'to continue to oppose EU sanctions on Russian oil'

Jennifer DeLay May 3, 2022

Zoltan Kovacs, Hungary’s State Secretary for International Communications, says Budapest remains opposed to proposals to ban the import of Russian crude oil and natural gas into the EU.

NEMETHY: How will the war in Ukraine affect Emerging Markets?

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors May 2, 2022

We have all heard the adage that a butterfly flapping its wings in the Amazon could affect the weather patterns on the other side of the planet. Might the war in Ukraine also have such unintended consequences?

Hungary's dependence on Russian energy will make ending those ties very painful

bne IntelliNews April 29, 2022

Viktor Orban opposes energy sanctions on Moscow because Hungary is so dependent on Russian supplies, but it is his regime that has deepened those energy links.

Visegrad Group needs to 're-invent itself", says Rupnik

Robert Anderson in Prague April 28, 2022

The Visegrad Group of four Central European countries is in “deep freeze” because of the Hungarian-Polish split over the Ukraine war, says Sciences Po professor.

EC triggers rule of law conditionality mechanism against Hungary

bne IntelliNews April 28, 2022

Commission cites Hungary's systemic irregularities and deficiencies in the management of EU funds and its lack of anti-graft measures.

Emerging Europe growth to fall to an average of 3% this year, says wiiw

bne IntelliNews April 28, 2022

Russian GDP forecast to fall by 9-15% this year, while Ukraine's economy could collapse by 38-45%.

Hungarian central bank maintains pace of monetary tightening

bne IntelliNews April 27, 2022

Monetary Council of the National Bank raises base rate by 100bp to 5.40%.

Election results in France and Slovenia go against Orban

bne IntelliNews April 26, 2022

The election defeat of Slovenia’s populist SDS means the Hungarian strongman has one less ally in the European Council at a crucial time when the EU is set to trigger the rule-of-law mechanism against Hungary.

Ukraine conflict will trigger recessions across CEE, says Capital Economics

bne IntelliNews April 21, 2022

Russian GDP forecast to slump 12% in 2022, while Ukraine's GDP will halve. Bulgaria, Slovakia and the Baltic states will have two quarters of negative growth.

Hungary to circumvent EU sanctions through gas payment 'technical solutions'

bne IntelliNews April 12, 2022

Hungary plans to pay for Russian gas in euros through Gazprombank, which will convert the payment into roubles.

VISEGRAD BLOG: Are broad coalitions really the best way to overthrow authoritarian populists?

Robert Anderson in Prague April 12, 2022

The Hungarian election has dealt a big blow to the once confident hope that broad opposition pre-electoral coalitions are the best way to remove entrenched authoritarian populists from power.

Orban faces daunting economic challenges, many of his own making

bne IntelliNews April 12, 2022

The victorious authoritarian leader now faces a slowdown in economic growth, an unfolding energy crisis, rising inflation, and bulging budget and current account deficits.

Hungarian consumer prices edge higher in March to 15-year high

bne IntelliNews April 11, 2022

Without government intervention, headline inflation would have been 3-4pp higher last month, analysts estimated.

FPRI BMB Ukraine: Orban denigrates Zelenskiy

FPRI BMB Ukraine April 7, 2022

If Volodymyr Zelenskiy hoped to see a change of government across the Carpathians in Hungary, he’ll have to wait another four years – all the while enduring Viktor Orbán’s small, but near constant, jabs.

Pre-election transfers lift February retail sales in Hungary

bne IntelIiNews April 7, 2022

Retail sales rose 9.8% y/y, the fastest rate seen in almost a year,

Orban hints at windfall taxes on foreign retailers and further rifts with EU

bne IntelliNews April 7, 2022

Hungarian premier rules out austerity measures to narrow the budget gap, while saying he would break EU solidarity by paying for Russian oil in roubles.

European Commission triggers conditionality mechanism against Hungary

bne IntelliNews April 6, 2022

The move demonstrates that the EU is not planning to give way on Hungary's violation of EU values, despite Prime Minister Viktor Orban's landslide victory in a flawed election at the weekend.

VISEGRAD BLOG: Victorious at home, Orban faces deeper isolation abroad

Robert Anderson in Prague April 5, 2022

The EU is not likely to back down on the Hungarian authoritarian leader's violations of EU values, and his alliance with Putin will continue to put the frayed relationship under strain.

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