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Retail sales in Hungary fell 13.6% year on year in April and by 12.6% when adjusted for calendar effects. The figure was below analysts’ projections.
Five EU member states bordering Ukraine will be allowed to keep some of their restrictions on imports of Ukrainian agricultural produce in place until September 15, the European Commission decided on June 5.
Geothermal energy could strengthen Hungary’s energy security, replacing up to 1.5 bcm of natural gas a year.
Prime Minister Viktor Orban attended the inauguration ceremony of Turkish President Recep Tayyip Erdogan on June 3, the only representative of an EU member country to do so. No information was released on the informal talks between the two leaders.
Czechia, Estonia and Slovakia are planning budget cuts at a time when interest rates are still painfully high and many economies have yet to emerge from recession.
The European great and the good gathered in a Moldovan castle yesterday for the second European Political Community summit and got very little done.
The sector is bracing for more losses in 2023, according to the retail association OKSZ.
The government slapped a 13% tax on savings and set minimum levels for investment funds' holdings of government bonds. Banks can also cut windfall tax if they increase purchases of local government bonds.
There is growing concern that Viktor Orban's radical rightwing government, with a track record of breaching fundamental values and blocking key EU decisions, could use the presidency in 2H24 to push its own agenda.
Budget is based on optimistic forecast of 4% economic growth next year and includes halving of windfall taxes on banks, pharmaceutical companies and energy suppliers.
European sanctions go through a process of continuous maturation and updating, adapting to current geopolitical sensitivities. European actors are accelerating efforts to adopt the eleventh sanctions package.
Hopes rise Turkish president will clear way for Swedish membership of defence bloc now that his country's elections are over and done with.
The failure of the Nation Alliance under optimal conditions shows that 'big tent' coalitions under a single list often do not succeed in extending the opposition's reach.
President Vucic’s resignation as head of the ruling SNS fails to end demands for political change in weekend of protests.
Democratic governance deteriorates in Emerging Europe and Central Asia, with worst declines in already authoritarian regions.
The MNB's monetary council cut the O/N rate by 100bp to 17% but left the base rate on hold at 13%
Azerbaijan can’t fully substitute for Russian gas at the pan-European level, but it can play a crucial role in promoting the energy security of individual states.
Orban's regime, notorious for its anti-migration rhetoric, says it cannot keep holding the traffickers, citing high costs and overcrowded jails.