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Hungary

Visegrad Four Support Ukraine’s EU Integration

At the V4 summit in Wisla/Poland Slovak President Gasparovic announced yesterday that the V4 countries are interested in Ukraine’s successful European integration, particularly in signing the Assciation Agreement with the EU.

July 4, 2013

Hungarian MOL to Invest $ 38m in Romanian Exploration

Hungarian oil and gas company MOL plans to invest $ 38m in the exploration and production of hydrocarbon resources in Western Romania.

July 3, 2013

Orban Attacks European Parliament

Prime Minister Orban claims that members of the EP would apply double standards on Hungary.

July 2, 2013

Hungary: New Tax for Banks

According to a legislative proposal by Economy Minister Varga, banks would have to face a further burden of around € 250m.

June 27, 2013

Ukraine Could Become Energy Hub in Europe

According to EU Enlargement Commissioner Füle, Ukraine is an important partner of the EU.

June 26, 2013

Hungary: Taxes to Be Raised

Shortly before the parliamentary summer recess taxes were raised by the government of Viktor Orban.

June 18, 2013

V4 Want Free Trade Zone Between EU and Japan

The Visegrad Four Group (V4), which consists of Poland, the Czech Republic, Slovakia and Hungary, support the creation of a free trade zone between the European Union and Japan.

June 17, 2013

CEESEG Exchanges Offer Very Attractive Valuations

Valuations of all exchanges in the CEE stock exchange group (CEESEG) appear to be very favourable at the moment.

June 17, 2013

Hungary: Fifth Amendment of Controversial Constitution Planned

The controversial Hungarian constitution is supposed to be changed for the fifth time since the EU Commission threatened the country with infringement proceedings.

June 10, 2013

Moody's: Overall Fiscal Situation In CEE Is Improving

Because of austerity measures in most of the countries, the economic situation is slowly but steadily improving.However, the latest competitiveness report pains a bleak picture of the future.

June 7, 2013

WIIW: FDI in CESEE to Decline

The Vienna Institute for Economic Studies (WIIW) forecasts a decrease of 20 percent in foreign direct investments.

June 7, 2013

Capital Inflow & Outflow In Hungary Broke Records Last Year

Last year, the amount of foreign direct investments totalled EUR 10.462bn in Hungary, which exceeds the previous year’s figure by EUR 6.7bn and which is the largest amount ever recorded.

May 28, 2013

Hungary: EDP to Be Dropped.

Hungary can count on the termination of the Excessive Deficit Procedure (EDP) by the European Union.

May 27, 2013

Joint Nabucco-Declaration Signed by Governments

Austria, Hungary, Romania, Bulgaria, Turkey adopt Nabucco joint declaration.

May 22, 2013

Orban’s „Derailment“ Causes Indignation in Germany

Hungary’s head of government Viktor Orban seems to love the confrontation. However, with the accusation of Germany using Nazi-methods he overstepped the mark in terms of tact.

May 21, 2013

Slovenia Hoping for Soon Recovery

Crisis-struck Slovenia intends to make more room financially by starting to privatize its state-owned banks. Experts regard the process to be carried out too slowly.

May 21, 2013

Croatia‘s and Hungary‘s Fight About Oil Company Ina

The dispute between core shareholders of Croatian oil producer Ina has started anew.

May 17, 2013

Austria: EU Competition Authority to Search Agrana

The European competition authority has paid a visit to listed starch and sugar producer Agrana in April.

May 15, 2013

Prolongation of Nabucco Exemption Confirmed

National Regulators Confirm Prolongation of Nabucco Exemption

May 14, 2013

Main Investors at CEE Stock Exchange Group from US

Institutional Investors and the CEE Stock Exchange Group in 2012.

May 13, 2013

CEESE: Economic Growth Stagnant

Orban claims Hungary is the country with the highest growth rate in CEE/CESEE next year.

May 10, 2013

Pressure from EU on Orban Increases

EU demands that Hungary withdraws the changes to the constitution.

May 8, 2013

EU: Hungary and Slovenia Have to Act Quickly

The European Union issued warnings to Slovenia and Hungary to move quickly.

May 6, 2013

Sberbank: New Head of SME Business

Sberbank Europe AG appointed Csongor Németh as new Head of SME business

May 2, 2013

EU Commission to Start Proceedings Against Hungary

On Wednesday, Justice Commissioner Viviane Reding told reporters in Brussels that the EU Commission will probably launch infringement proceedings against Hungary.

April 26, 2013

Hungary: New Political Competition For Orban

Former Finance Minister founds “conservative, pro-European” party.

April 23, 2013

Hungary: MNB Cuts Interest Rate by 0.25 %

The Central Bank of Hungary (MNB) has cut interest rates by a quarter percentage point for the ninth month running.

April 23, 2013

Hungary: Lopatka Presses For Legal Security for Austrian Enterprises

State Secretary Reinhold Lopatka met with Hungarian State Secretary for European Affairs Gergely Pröhle in Budapest toda to urge for legal security for Austrian enterprises in the neighboring country.

April 19, 2013

EU Countries to Use Ukrainian Gas Storage Facilities

EU Countries Show Interest in Ukraine’s Gas Transportation System

April 19, 2013

Hungary: Financial Regulator to Be Merged With MNB

Hungary plans to fuse the financial regulator with the central bank.

April 19, 2013

Schwarzenberg: „Slovenia Joining V4 Would Not Be Efficient“

V4 Foreign Ministers have declared disapprobation of Slovenia joining the group.

April 19, 2013

Hungary: Average Gross Earnings Increased Marginally

Average gross earnings amounted to HUF 223,100.

April 18, 2013

Heated Debate in EP About Hungary

On Wednesday, the European Parliament has lead a heated debate concerning the controversial amendments to the Hungarian constitution.

April 18, 2013

Spar: Expanding in Hungary

Spar Austria Group intends to expand the meat plant near Budapest and the entire branch network in Hungary.

April 18, 2013

„Unlawful“ Farming in Hungary

The estimated 200 Austrians, who are engaged in agriculture in Hungary, are apparently not highly esteemed by Hungarian Prime Minister Viktor Orban.

April 16, 2013

Convergence Programme in Hungary: Faster Growth, Lower Deficit

The updated Convergence Programme covering the period 2013-2016 projects faster growth and a lower deficit for the upcoming years.

April 16, 2013

Hungary: Increasing Tensions Between Barroso and Orban

President of the EU Commission, Jose Manuel Barroso wrote another letter to Prime Minister Orban warning him of the impacts in case the government will not realize the claimed measures.

April 15, 2013

New Fiscal Rules in EU Six-Pack to Benefit CEE5

New fiscal rules should reduce risk of self-defeating austerity. There is no need for CEE countries to raise taxes if they stick to growth-friendly policies and cap real increase of expenditures below 1%.

April 15, 2013

EU Threatens Hungary With Process

The EU Commission has warned Hunary with a lawsuit in case the government in Budapest should not withdraw the controversial amendmends to the consititution.

April 12, 2013

FDI: Hungary Popular With German Enterprises

The majority of German companies would again choose Hungary for their investments

April 11, 2013

Hungary: Commissioner Reding’s Reactions to Allegations

EU Justice Commissioner and Deputy President of the EU Commission Viviane Reding has reacted to the accusations of the Hungarian government.

April 10, 2013

Fitch: Poland Best Placed For Economic Recovery

In a statement regarding a report on the need of structural reforms in the CESEE region, rating agency Fitch awarded Poland the best position for an economic recovery among five countries.

April 9, 2013

Matolcsy’s Program Evokes Mixed Feelings.

During a press conference on Thursday, April 4, new Govenor of Hungarian National Bank (MNB), György Matolcsy presented some of the “creative financial market instruments”.

April 6, 2013

Hungary: Public Deficit Amounted to HUF 166.6bn in Q4/2012

The deficit of the general government sector was HUF 566.7 billion in 2012, 2.0% of GDP according to data reported to the EU on 29 March 2013 under the Excessive Deficit Procedure (EDP).

April 3, 2013

Hungary: Marginal Increase in Employment Rate

In light of the flash report by the Hungarian Central Statistical Office (KSH) released on March 28, a positive trend regarding employment – a priority area for the Government – becomes evident.

April 2, 2013

Hungary: Economic Growth Only in 2014

The MNB, the National Bank of Hungary estimates economic growth to further stagnate in 2013 but forcasts positive devolopments for the next year.

March 29, 2013

Slovenia: Situation For Banks Still Shaky

According to the National Bank, the new government in Slovenia needs to avoid becoming the new setting of bail-out negotiations with the EU after the banking crisis in Cyprus.

March 28, 2013

Hungary: Tax Overhaul Finalized

Minister for National Economy: taxation system completed - time for fine-tuning.

March 27, 2013

Hungary: MNB to Reduce Key Interest Rate

The Hungarian National Bank (MNB) lowered the key interest rate by 25 basis points down to 5.0 %. This is the eighth downgrade in a row.

March 26, 2013

Hungary: In a Debt Crisis Soon?

New all-time high in debts was reported. Hungarian populations hopes for fast political turn-around.

March 22, 2013