Hungary

EBRD: Reduced gas supplies and inflation to slow growth further in EBRD regions

EBRD September 28, 2022

The European Bank for Reconstruction and Development (EBRD) projects growth in its region will slow as a result of gas supply problems that are feeding an energy crisis. The bank says growth will slow to 2.3% in 2022 in its region and 3% in 2023.

BRUEGEL: National policies to shield consumers from rising energy prices

Giovanni Sgaravatti for Bruegel, Simone Tagliapietra for Bruegel, Georg Zachmann for Bruegel September 26, 2022

The current increase in wholesale energy prices in Europe has prompted governments to try to shield consumers from the direct impact of an energy crisis that is sweeping the Continent and the rising prices that are costing hundreds of billions.

ING: Eurozone PMI suggests the region may already be in recession

Bert Colijn Senior Economist Eurozone for ING September 26, 2022

The third decline in a row for the eurozone PMI indicates that business activity has been contracting throughout the quarter. This confirms our view that a recession could have already started.

VISEGRAD BLOG: Orban prepares to surf the populist wave again

Robert Anderson in Prague September 25, 2022

But the Hungarian strongman may struggle both to exploit the cost of living crisis and to unite Europe's resurgent radical right, particularly if the Russian-Ukraine war grinds on.

Hungary to launch national consultation on EU sanctions against Russia

Tamas Csonka in Budapest September 23, 2022

Viktor Orban’s latest move is another way of shifting the blame for economic woes following a procyclical and expansive fiscal policy in recent years.

EC proposes suspending two thirds of Hungary's cohesion funds

Tamas Csonka in Budapest September 19, 2022

Hungary could become the first EU country to lose significant EU funds under the bloc's new Conditionality Mechanism.

European Parliament report names Hungary as 'hybrid regime of electoral autocracy'

Tamas Csonka in Budapest September 16, 2022

The report puts pressure on the European Commission not to compromise with Viktor Orban's radical rightwing regime by releasing currently frozen RRF and Cohesion Funds.

Nuclear power's share dropped to record low in OECD, but solar jumped to record highs thanks to hot summer

bne IntelliNews September 16, 2022

Germany’s decision to take its nuclear power plants offline, coupled with production problems with France’s NPPs, saw the share of nuclear power in the OECD countries year to date fall to its lowest level ever, but solar boomed.

European Commission to decide in days on cutting funds to Hungary

Tamas Csonka in Budapest September 15, 2022

Forint falls after reports that Brussels is set to cut Hungary's budget funding because of continuing failure to tackle corruption and make procurement more transparent.

Hungary’s automotive industry shifts to higher gear in July

bne IntelliNews September 15, 2022

Industrial production growth confirmed at 4%, and 6.6% according to workday-adjusted figures.

Ryanair cuts Hungarian operations due to windfall tax

bne IntelliNews September 14, 2022

Airlines operating in Hungary were hit with a departure fee from €10-25 per passengers in June as part of the government windfall taxes.

IMF: How food and energy are driving the global inflation surge

Philip Barrett economist for the IMF September 11, 2022

Global inflation was generally moderating when the pandemic began, and the downward trend continued into the early months of the crisis. But surging prices since late 2020 have pushed inflation higher than in all of the last five years combined.

Hungarian inflation jumps to 24-year high in August

bne IntelliNews September 9, 2022

Hungary’s annualised CPI accelerated to 15.6% from 13.7% in July.

ING: ECB hikes by a historic 75bp, more hikes in the works

Carsten Brzeski Global Head of Macro for ING Research September 9, 2022

The European Central Bank has decided on the largest rate hike since the start of the monetary union and has given the impression that it is fully determined to do more on September 7.

VISEGRAD BLOG: Putin’s cost of living crisis has already caused mass demonstrations in Europe, but will they get worse?

Ben Aris in Berlin September 8, 2022

Last weekend 70,000 protesters gathered on Wenceslas Square in the heart of Prague to demonstrate against the rising cost of living and demanded a rapprochement with Russia. Will demonstrations spread across Europe as the crisis gets worse?

Hungary’s industry shows resiliency in July

bne IntelliNews September 8, 2022

The output of Hungary's industrial sector rose 4.0% y/y in July, picking up from a 1.5% increase in the previous month.

INA chairman tenders resignation after corruption scandal

bne IntelliNews September 8, 2022

Chairman of the oil and gas company offered to step down after Croatia’s anti-corruption body made five arrests in a high-profile fraud case.

Eastern EU governments under pressure to act on rising living costs

bne IntelliNews September 7, 2022

Discontent is growing in Central and Southeast European countries that are suffering the highest inflation in the EU, pumped up by soaring food and energy prices.

Hungary to set up independent anti-corruption authority in bid to unlock EU funds

bne IntelliNews September 7, 2022

The latest Hungarian move will be a test of whether the European Commission is really committed to curbing corruption in Hungary.

Soaring Central European wages fail to keep pace with inflation

Robert Anderson in Prague September 6, 2022

Oxford Economics says risk of wage-price inflationary spirals is “overblown”.

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