For its part, the business community is pleased to see inflation remaining surprisingly low despite lingering geopolitical turmoil, alongside a decline in Hungary’s risk premium and friendlier relations with the European Union. Of course, the strong forint is more helpful to importers than exporters. Even so, Hungary’s consumer confidence index rose to 1.6 in July, entering positive territory for the first time in years and reaching a level last seen 24 years ago, according to the independent economic research institute GKI.
If there has been one area where our captains of industry are less happy, it concerns the ability to employ third-country workers. Prime Minister Péter Magyar promised his cabinet would consult much more widely than the various Fidesz governments over the past 16 years, and this is certainly an issue on which the commercial world would like to see progress made, as our story on Page 7 makes clear.
The government says it wants companies to employ Hungarians rather than third-country workers. Most businesses would say exactly the same thing, and point to the fact that hiring third-country workers is not a cheaper option than recruiting domestically. Even before the most recent restrictions, it required considerably more bureaucratic paperwork. But sometimes, there is no choice, hence the production of an eight-page document called “Simplifying Hungary’s Work Permit System: A Comprehensive Proposal,” which has been sent to multiple ministries. A stakeholder conference is also in the offing for mid-September. The various multinational business chambers will want to see consultation and policy progress on this as soon as possible. It is shaping up to be the first real test of Tisza’s pro-business credentials.
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This is the last print issue of the Budapest Business Journal until Friday, Sep. 4. As we have done every year since we launched, we suspend the print issue for August while Budapest decamps en masse for Lake Balaton or further afield. But do not worry if you want to keep up to date with what is going on in Hungary. Our Hungary A.M. newsletter will continue to go out each business day, and our website will be updated daily.
Wherever and whenever you plan to take your summer holiday, we wish you a relaxing time with family and friends as you recharge your batteries.
Robin Marshall
Editor-in-chief
This editorial was first published in the Budapest Business Journal print issue of July 31, 2026.
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