Nicholas Pongratz

Ukraine Crisis

Orbán Doubts Ukraine Victory, Szijjártó Digs in Over OTP

Prime Minister Viktor Orbán said he does not believe that Ukraine can achieve a battlefield victory in its ongoing struggle...

Ukraine Crisis

OTP Rebuts Ukraine’s Claim it is an International War Sponsor

Ukraine’s National Agency on Corruption Prevention (NACP) sparked controversy in Hungary when it included the country’s largest lender, OTP Bank,...

Analysis

Domestic Businesses Surprisingly Optimistic in Q1

Domestic businesses were in a surprisingly optimistic mood in the first quarter, which may be because they did not have...

Ukraine Crisis

Hungary and Ukraine’s Neighbors win EU Import ban Concessions

The European Union has agreed to a temporary ban on importing specific agricultural products from Ukraine, Minister of Agriculture István...

MNB

Int’l Reserves at EUR 39.88 bln in April

The international reserves of the National Bank of Hungary (MNB) stood at EUR 39.88 billion at the end of April,...

Banking

Households Withdraw HUF 120 bln in March

Households made net withdrawals of HUF 120 billion from their accounts at Hungarian banks in March, according to monthly data...

Tourism

TKI Tourism Business Index Remains Positive in April

The TKI tourism business index stood at two points in April, on a scale between -100 and +100, according to...

Banking

More People Taking out Smaller Loans

More people are taking out loans, even for small amounts, since they can apply for a bank loan quickly and...

EU

Hungary May be Ready for Euro by End-2024 – Kovács

By the end of next year, Hungary could fulfill the conditions for the introduction of the euro, said Árpád Kovács,...

Analysis

86% Reducing Expenses Because of Inflation

As a result of the price increases, the vast majority of Hungarians are trying to reduce their expenses (86%) and...

Construction

Home Building Permits in Q1 Falls 37.6% y.o.y.

The number of home building permits issued in Hungary fell 37.6% year-on-year to 4,989 in the first quarter, according to...

Tourism

MNB Launching Campaign Supporting Summer Trips

The National Bank of Hungary (MNB) is launching a communication campaign to support financial decisions during summer trips, according to...

Museums

Museum of Ethnography to Be Showcased at Venice Biennale

The Museum of Ethnography's new building in Budapest will be the focal point of the Hungarian national pavilion's exhibition for...

Banking

Banks Offer Average Salary of HUF 550,000

Banks are offering an average salary of more than HUF 550,000 net per month and, despite the burdens on them,...

Residential

35% More Properties for Sale y.o.y. in April

There were 136,000 residential properties for sale on the real estate market at the end of April, 35% more than...

Ukraine Crisis

Hungary Again Digs in Heels on EU Accession Clusters

Hungary withheld approval for Ukraine’s next European Union accession clusters for a fifth time, after Prime Minister Péter Magyar rejected...

Ukraine Crisis

Hungarian-Ukrainian Relations Advance, to a Degree

Hungarian-Ukrainian relations advanced on several fronts in August, as President Volodymyr Zelenskyy invited Prime Minister Péter Magyar to Kyiv, Budapest...

Ukraine Crisis

Hungary Again Stalls on Opening Further Ukrainian EU Accession Clusters

Within five days, Hungary twice declined to clear the first procedural step toward opening two further European Union accession clusters...

Ukraine Crisis

Still no Date or Venue for Magyar-Zelenskyy Summit

Hungary’s government ordered an investigation into the Orbán-era seizure of Ukrainian bank assets, lifted a nine-month ban on Ukrainian media...

Ukraine Crisis

Magyar Lifts Veto on European Peace Facility, EU Accession Talks

Prime Minister Péter Magyar lifted Hungary’s two-year veto on European Union arms reimbursements on June 2 and announced a comprehensive...

Ukraine Crisis

Kyiv, Budapest Closer to Minority Rights Agreement

In the concluding weeks of May, Prime Minister Péter Magyar managed to secure EUR 16.4 billion in frozen EU funds...

Ukraine Crisis

Ukraine Makes Reset With Hungary a Foreign Policy Priority

Péter Magyar’s May 9 inauguration as Hungary’s prime minister, formally concluding Viktor Orbán’s 16-year continuous rule, brought an immediate shift...

Ukraine Crisis

Can Tisza Victory Help Budapest and Kyiv Reset Relations?

The European Union has approved a EUR 90 billion loan for Ukraine and unblocked delayed Russia sanctions after Hungary lifted...

Ukraine Crisis

Election Result Offers Hungarian Reset With EU and Ukraine

In what could prove a watershed moment for Hungarian-Ukrainian relations, Péter Magyar’s Tisza Party decisively ended the 16-year rule of...

Energy

Oil, Gas Pipeline Threats Highlight Hungary’s Energy Dependency

With an oil pipeline halted since January, a global price shock from the closure of the Strait of Hormuz, and...

Ukraine Crisis

Fidesz, Tisza Exchange Tit-for-tat Spying Allegations on Foreign Interference

Hungary’s government and opposition traded accusations of serving foreign intelligence services in the final days before the April 12 election,...

Ukraine Crisis

Ukraine Loan Blocked by Orbán, Szijjártó Phone Briefings Raise Eyebrows

Minister of Foreign Affairs and Trade Péter Szijjártó has been accused of covertly briefing Moscow on EU meeting proceedings, prompting...

Ukraine Crisis

Hungary Seizes Ukrainian Cash, Gold from Armored Truck Convoy

Hungary detained seven Ukrainian bank employees transporting USD 40 million, EUR 35 mln, and nine kilograms of gold through Budapest...

Ukraine Crisis

Budapest and Kyiv Trade ‘Blackmail’ Allegations Over Energy Supplies

Hungary intensified its confrontation with Ukraine over halted Russian oil shipments through the Druzhba (ironically, the name translates as “Friendship”)...

Ukraine Crisis

Gov’t Outrage Over Deaths During ‘Forced Conscription’ of Ethnic Hungarians

The death of a second ethnic Hungarian during Ukrainian military conscription processing triggered a series of escalating measures by the...

Hungary Again Digs in Heels on EU Accession Clusters

Hungary withheld approval for Ukraine’s next European Union accession clusters for a fifth time, after Prime Minister Péter Magyar rejected...

Hungarian-Ukrainian Relations Advance, to a Degree

Hungarian-Ukrainian relations advanced on several fronts in August, as President Volodymyr Zelenskyy invited Prime Minister Péter Magyar to Kyiv, Budapest...

Hungary Again Stalls on Opening Further Ukrainian EU Accession Clusters

Within five days, Hungary twice declined to clear the first procedural step toward opening two further European Union accession clusters...

Still no Date or Venue for Magyar-Zelenskyy Summit

Hungary’s government ordered an investigation into the Orbán-era seizure of Ukrainian bank assets, lifted a nine-month ban on Ukrainian media...

Magyar Lifts Veto on European Peace Facility, EU Accession Talks

Prime Minister Péter Magyar lifted Hungary’s two-year veto on European Union arms reimbursements on June 2 and announced a comprehensive...

Kyiv, Budapest Closer to Minority Rights Agreement

In the concluding weeks of May, Prime Minister Péter Magyar managed to secure EUR 16.4 billion in frozen EU funds...

Ukraine Makes Reset With Hungary a Foreign Policy Priority

Péter Magyar’s May 9 inauguration as Hungary’s prime minister, formally concluding Viktor Orbán’s 16-year continuous rule, brought an immediate shift...

Can Tisza Victory Help Budapest and Kyiv Reset Relations?

The European Union has approved a EUR 90 billion loan for Ukraine and unblocked delayed Russia sanctions after Hungary lifted...

Election Result Offers Hungarian Reset With EU and Ukraine

In what could prove a watershed moment for Hungarian-Ukrainian relations, Péter Magyar’s Tisza Party decisively ended the 16-year rule of...

Oil, Gas Pipeline Threats Highlight Hungary’s Energy Dependency

With an oil pipeline halted since January, a global price shock from the closure of the Strait of Hormuz, and...

Fidesz, Tisza Exchange Tit-for-tat Spying Allegations on Foreign Interference

Hungary’s government and opposition traded accusations of serving foreign intelligence services in the final days before the April 12 election,...

Ukraine Loan Blocked by Orbán, Szijjártó Phone Briefings Raise Eyebrows

Minister of Foreign Affairs and Trade Péter Szijjártó has been accused of covertly briefing Moscow on EU meeting proceedings, prompting...

Hungary Seizes Ukrainian Cash, Gold from Armored Truck Convoy

Hungary detained seven Ukrainian bank employees transporting USD 40 million, EUR 35 mln, and nine kilograms of gold through Budapest...

Budapest and Kyiv Trade ‘Blackmail’ Allegations Over Energy Supplies

Hungary intensified its confrontation with Ukraine over halted Russian oil shipments through the Druzhba (ironically, the name translates as “Friendship”)...

Gov’t Outrage Over Deaths During ‘Forced Conscription’ of Ethnic Hungarians

The death of a second ethnic Hungarian during Ukrainian military conscription processing triggered a series of escalating measures by the...