Justice commissioner says there will be an extensive back-and-forth period with Budapest before ultimately submitting a proposal to the Council of the EU.
Turkish growth is expected to slow to 3.5% this year, from a forecast 9.5% in 2021, while for Russia, GDP growth is forecast to slow to 2% from 4.5%.
The US Fed has not increased interest rates, just talked of increasing rates – not even by that much — and global stock exchanges lost $4.2 trillion in week. How can the Fed kill off the current high inflation without crashing the economy?
The Monetary Council of Hungary’s National Bank raised the base rate by 50bp to 2.9% at its first monthly policy meeting of the year.
Hungary slipped four notches to 73th place in Transparency International's 2021 Corruption Perceptions Index ranking.
The government is expected to refuse to allow the referenda to be held on the same day as the general election, at which it is already holding an anti-LGBT vote.
Brussels says it has exclusive competence to deal with EU-wide mergers and that it doubts that decision was aimed at protecting Hungary's legitimate interests.
Central Europe faces a critical year, with a key election in Hungary in April, while rumbling political instability in Poland and Slovakia could lead to early elections.
Consumer prices increased by 7.4% y/y in December, while core inflation rose to 6.4%.
A group of sustainable investors has urged the EU to exclude gas from the new the EU Taxonomy green investment classification system.
MEPs demand investigation into claims enlargement commissioner backed Dodik, despite denial by Hungary's ruling Fidesz.
Analysts expect the chip shortage to ease in H2, which could trigger a sharp rebound in industrial output.
Opposition parties said the government’s latest move is a clear admission that the Hungarian economy is in a tragic state.
Orlen’s next goal is taking over oil and gas exploration and production company PGNiG to build a regional oil major.
The number of deaths in Hungary reached 150,000 last year, the highest since 1945, which means that the country’s population fell by nearly 60,000, the steepest decline in 145 years.
United opposition faces uphill battle to dethrone strongman Viktor Orban, who has massive financial resources and the entire state apparatus plus most of the media behind him, as well as a gerrymandered electoral system.
New CEO Ladislav Bartonicek is reported to be selling Home Credit Russia as part of the investment group's shift to more mature markets.
The output of the automotive sector, which has the biggest weight in manufacturing in Hungary, fell considerably as companies scaled back production because of the global chip shortage.
Opposition parties seem to have lost their momentum after the primaries, amid squabbling over joint national list.
Commission says there is a role for natural gas and nuclear as a means to facilitate the transition towards a predominantly renewable-based future.