Hungary AM

In Hungary

Festivals ‘Vital’ to Economy, Says State Secretary

State Secretary Csaba Latorcai of the Ministry of Public Administration and Regional Development said festivals were "vital" to the economy,...

Manufacturing

Gov’t Made ‘Every Effort’ to Save Dunaújváros Steelworks – Ministry

Hungary's government has made "every effort" to save the Dunaújváros steelworks, while India's Liberty Steel, which acquired the steelworks in...

Figures

MNB Sees Inflation Slowing Further in September

August's 3.4% Consumer Price Index was in line with the National Bank of Hungary's (MNB) expectations, and the central bank...

EU

EU Farm Ministers Discuss Streamlining Administration

European Union agriculture ministers discussed ways to reduce administrative burdens at a meeting in Brussels, State Secretary for Farming and...

Energy Trade

MOL Signs Deal to Develop Gas Reserves in Azerbaijan

Hungary's MOL and its joint venture partners have signed commercial agreements to develop gas reserves in Azerbaijan, the oil and...

Green Energy

Biomethane Output Must Triple – Report

Hungary needs much more biogas and biomethane purified from it than at present, writes business daily Világgazdaság....

Automotive

1st Cupra Terramar Rolls of Audi Hungaria Production Line

The first Cupra Terramar model rolled off the production line at German automaker Audi's factory in Győr (120 km northwest...

Government

Guest Worker Rules Could Be Tightened Further

The Minister of National Economy said rules regarding guest workers could be tightened further in a statement on its website....

In Hungary

Balaton Park to Host MotoGP, Superbike Races

Hungary's Balaton Park Circuit will host MotoGP and Superbike World Championship races next year, organizers said at the track....

Automotive

HUF 1 bln in EV Subsidies Paid Out

The first HUF 1 billion of subsidies in a scheme to support businesses' purchases of electric vehicles has been paid...

Energy Trade

MVM H1 Revenue Falls 22% Y.O.Y.

The first-half sales revenue of state-owned energy group MVM fell 22% year-on-year to HUF 2.156 trillion, according to an earnings...

Tourism

Tourism Sector on the Upturn

Hungary's tourism sector is on the upturn, boasting a record number of domestic and foreign visitors this year, Minister of...

Green Energy

Over 20,000 Households Applied for Solar Panel Subsidies

More than 20,000 households have applied for subsidies to install solar panels and battery storage in a scheme launched in...

Figures

IMF Growth Projections Put Hungary Among EU Frontrunners

Economic growth projections by the International Monetary Fund put Hungary among next year's European Union frontrunners, Minister of Finance Mihály...

Automotive

Hungary a ‘Frontrunner’ in Advancing Electromobility – State Sec

Hungary is a "frontrunner" in terms of efforts to advance electromobility, State Secretary for Industrial Policy and Technology Gergely Fábián...

Retail

Aldi Cuts Selection and Prices, Shifts toward Stricter Discount Model

Aldi has reduced its food assortment from 2,600 to 2,100 products as part of a data‑driven cleaning process that keeps...

Automotive

Budapest Cuts EV Parking Discounts but Keeps Benefits Until 2030

Budapest's City Assembly voted to reduce the parking discount for electric and hydrogen vehicles to 50%, keeping the benefit in...

EU

EU Grants Hungary 1‑year Exemption from Gas Market Rule

The EC approved Hungary's request for a temporary exemption from an EU gas‑market regulation at the Serbian border, allowing the...

Budapest Hotels Outperform Regional Rivals Despite Lower Guest Numbers

Budapest’s hotels delivered some of the strongest results in CEE, posting an 81.3% occupancy rate, and leading the region with...

Hungarian EV Market Continues to Grow, Leading CEE

Electromobility in Hungary continues to grow. In the first half of the year, 7,497 new all-electric passenger cars were registered,...

State and City to Renew Budapest’s Danube Waterfront

The gov't and Budapest will form a new 50–50 joint company to develop the Budapest section of the Danube, resolving...

Aldi Cuts Selection and Prices, Shifts toward Stricter Discount Model

Aldi has reduced its food assortment from 2,600 to 2,100 products as part of a data‑driven cleaning process that keeps...

18,000 Truck Drivers Near Retirement, Hungary Faces Shortage

Europe currently has more than 500,000 unfilled truck‑driver positions, and another 600,000 drivers are expected to reach retirement age in...

Budapest Cuts EV Parking Discounts but Keeps Benefits Until 2030

Budapest's City Assembly voted to reduce the parking discount for electric and hydrogen vehicles to 50%, keeping the benefit in...

EU Grants Hungary 1‑year Exemption from Gas Market Rule

The EC approved Hungary's request for a temporary exemption from an EU gas‑market regulation at the Serbian border, allowing the...

Budapest Office Supply Tightens, Vacancy Falls, Rents Flat

Budapest's office market is tightening, with the vacancy rate at 12.2% even as rental prices remain at EUR 25 per...

ÁKK: Euro Adoption May Cut Hungary’s Debt Costs by 50%

The Government Debt Management Agency (ÁKK) says Hungary could reduce its financing costs after adopting the euro, lowering annual interest...

Budapest to Raise Fare Evasion Penalties From Nov. 2

Budapest's public transport penalty fares will be raised by approximately 20–25% in several categories from November 2, daily newspaper Népszava...

Hungary to Formalize Gift of Lipizzaner Horses to King Charles III

Hungary will formally gift two Lipizzaner horses to the UK's King Charles III, resolving an ownership issue after the animals...

Varga Prioritizes Successful Euro Adoption Over Speed

Hungary should prioritize a successful transition to the euro over rapid adoption, MNB governor Mihály Varga said at the 64th...

Hungarian Homebuyers Secure Biggest Discounts in 2 Years

Homes in Hungary sold for an average of 6.4% below their final advertised asking price between June and August, the...

Hungarian Agricultural Concentration Accelerates, 35,000 Farms Disappear in 3 Years

Hungary's agricultural sector has undergone rapid consolidation, with the number of agrarian farms dropping by 41% over the past 10...

MVM Introduces Dynamic Electricity Tariff

From Sep. 1, households and microbusinesses under universal service can voluntarily switch to energy company MVM's new dynamic tariff, which...