Polish Energy Group ORLEN Enters Hungarian Market
Polish energy group ORLEN on Thursday announced its entry onto the Hungarian market with the takeover of 143 petrol stations.
Economy
Minister of Agriculture: the reason why food has become so expensive in Hungary is that it used to be cheap
According to Minister of Agriculture István Nagy, the reason there is a shortage of products with price caps is that people are stockpiling – Népszava pointed out in Inforádió’s program.
Electricity Consumption Hits Record High in 2021
Gross annual and monthly electricity consumption and the ratio of sustainable energy in electricity production and consumption saw record highs in 2021, the Hungarian Energy and Public Utility Regulatory Authority (HEA) said in an annual report published on Wednesday.
Debt Financing Among Biggest Risks for 2023
The opposition Socialist Party says it expects debt financing to be one of the biggest risk areas of the 2023 fiscal year, and that they hope the government was going into next year with a “comprehensible budget”. Zoltán Vajda, the head of parliament’s budgetary committee, said the body on Tuesday discussed the final accounts of […]
Széchenyi Card Scheme to Be Backed By HUF 290 BN
The government will support the Széchenyi Card scheme with 290 billion forints (EUR 712.6m) next year after receiving 130 billion this year, Prime Minister Viktor Orbán said on Tuesday.
Investment Volume Up 7.7 % in Q3
Investment volume in Hungary grew by an annual 7.7% in the third quarter, edging down from a 7.8% annual increase in Q2, the Central Statistical Office (KSH) said, adding that the increase in investments could be explained by the dynamic activity of households and businesses combined with shrinking government investments.
Opposition Called for Linking Starter Teachers’ Salaries to Central Bank Governor’s Pay
The opposition Socialists have called for teachers’ salaries to be linked to the central bank governor’s pay. Socialist parliamentary group leader Bertalan Tóth told an online press briefing that a current government proposal to raise György Matolcsy’s salary from 5 million forints (EUR 12,275) a month to over 6 million forints was unacceptable.
BMW Raises Investment in Debrecen Plant
German carmaker BMW is adding a battery assembly plant to its electric vehicle factory being built in Debrecen, in eastern Hungary, bringing its investment in the project to 800 billion forints (EUR 2bn), the minister of foreign affairs and trade said on Friday. The addition of the battery plant makes the factory the third biggest […]
Opposition: Hungarian People Need EU Funds
Hungarian families badly need European Union funds to tackle the current cost-of-living crisis, the Hungarian Socialist Party (MSZP) told MTI after talks with the European parliamentary leader of the Progressive Alliance of Socialists and Democrats (S&D) in Madrid.
Hungary Jobless Rate at 3.6% in October
Hungary’s jobless rate was 3.6% in October, edging down from 3.8% in the previous month and from 3.9% twelve months earlier, the Central Statistical Office (KSH) said on Friday.