Hungary
January temperature records broken across Europe
Eight countries in Europe recorded all-time high temperature records for January on New Year’s Day this year. The following data draws from the visualization of meteorologist Scott Duncan and reports by the BBC, Statista reports.
THE MITTELEUROPEAN VIEW: Western banks go back to square one in CEE
Major Western banks had already adjusted their regional portfolio allocations back to Central Europe so the Ukraine war has not forced a complete reassessment of business strategies.
Hungary’s economy minister expects inflation to peak at 27% next year
While inflation is now at its plateau or on a descending path in Europe, it is still on its way up in Hungary.
ING: Europe is pushing climate-friendly travel
To reduce carbon emissions, Europe aims to transition travellers from planes to trains. Its extensive rail network and the growing consumer demand for greener transport solutions provide a clear opportunity.
ING: EU reaches deal on world’s first carbon border tax
EU policymakers have provisionally agreed this week to introduce the world’s first carbon border tax in a push to encourage cleaner industrial production globally and protect its domestic industry.
Hungary’s automotive sector output climbs 32% y/y in October
Headline industrial output growth confirmed at 5.9% in September, slowing after two consecutive months of double-digit growth.
Hungary scrambles to save country’s largest steelworks
UK's Liberty Steel is reportedly in talks with government about buying ISD Dunaferr, which is poised to go into liquidation.
Start of a new super cycle – fat and flat for 2023?
The global economy has been through some enormous changes in recent years, leading investors and analysts to believe we are at the start of a new high-inflation, lower-growth super-cycle that could last for as long as a decade.
IMF: Global food prices to remain elevated amid war, costly energy, La Niña.
Interest rate hikes have eased price pressures, but the weather, war and material costs could keep food prices elevated for longer,
Who is winning the sanctions war?
In December the EU commissioned a secret report to assess just how badly the war in Ukraine, and the polycrisis it is fuelling, is hurting Europe’s economy. Good news: Europe is doing OK; bad news: so is Russia.
Analysts say Turkmenistan told US diplomats ‘it’s not interested’ in Caspian gas-to-Europe connector project, wants major pipeline
Ashgabat said to be signalling that “it won’t get out of bed for anything less”.
Poland and Hungary chart different roads to accessing EU funds
Poland has its Cohesion Funds approved, while part of Hungary's is frozen, but both will have to meet conditions to get recovery funds released.
EU ambassadors reach megadeal on global minimum tax, Ukraine aid and Hungary’s RRF funds
The deal will help Hungary fill its yawning budget deficit and should steady the forint, the EU's worst performing currency this year.
Ninth package of sanctions on Russia bogged down in debate
Debate of what should go into the EU’s ninth package of sanctions is bogged down in disagreement. EU foreign ministers met on December 12 to think up more measures to punish Russia for its war in Ukraine, but could not agree on how best to do this.
IMF: Riding the global debt rollercoaster
Global debt remained above pre-pandemic levels in 2021 even after posting its steepest decline in 70 years, underscoring the challenges for policymakers.
NEMETHY: The case for gold today – again
In April 2021 gold was sitting around a price of $1,700; as of December 10, 2022 it is now approaching $1,800. Relative to just about every other asset class, this is not a bad performance.
EU Council adopts €18bn aid for Ukraine despite veto by Hungary
The EC agreed that each member state will take on financial responsibility individually and the money will not be lent at EU level, to avoid the Hungarian veto.
COMMENT: The EU system is adjusting to permanent tension with Orbán’s Hungary
The Commission’s proposal to condition large parts of the EU aid flow on reaching rule of law-related milestones offers unprecedented leverage over Budapest. It should not be afraid to use this.
Hungary's CPI rises to 26-year high in November
Consumer prices rose 22.5% y/y in November, accelerating from a 21.1% increase in the previous month.
ING: Hungary starts fourth quarter on a bad footing
The many economic challenges have begun to surface and become measurable. The performance of industry and retail sales was subpar in October, suggesting a tough fourth quarter.
