Approximately 25,000 troubled borrowers could take advantage of Hungaryʼs new personal bankruptcy law in the short term, and the legislation could affect some 40,000 families in the long term, according to top officials of the Hungarian Banking Association, Hungarian news agency MTI reported.
It could take "at least five years" to bring corporate lending stock back to levels close to the long-term trend, even if loan growth reaches an annual 6-7%, the rate required to support sustainable economic development, the National Bank of Hungary (MNB) said in a report on Monday, according to state news agency MTI.
Special levies impacting supermarket chains and tobacco sellers are being challenged at a European level, with critics saying they single out foreign firms.
"If we donʼt succeed in fairly distributing refugees, then of course the Schengen question will be on the agenda for many," German Chancellor Angela Merkel announced at a conference in Berlin, news portalrt.com reported yesterday.
The Hungarian-American art collector Imre Pakh has ordered a monumental painting by the Hungarian master Mihály Munkácsy on loan to a museum in Debrecen, eastern Hungary, to be veiled from public view pending a decision by the national heritage office on its removal, the Déri Museum told Hungarian news agency MTI yesterday.