Inflation could rise slightly over the 3% mid-term target in the coming months on the back of sharp increases in global oil prices, but the National Bank of Hungary (MNB) said it expects no spillover effects, according to its quarterly report published in full Thursday.
Hungarian lawmakers pointedly chose the occasion of World Refugee Day, June 20, to approve controversial legislation that makes the promotion and support of illegal immigration a punishable criminal offense. International organizations expressed severe criticism of the law, calling for legal action against Hungaryʼs government.
The growth rate of the Hungarian economy may fluctuate in the future as the government focuses on cutting the deficit significantly and going on with debt reduction. This announcement might come as something of a surprise, as the finance minister earlier said that improving competitiveness is the number one task for the newly elected government.
Croatian oil and gas company INA, a subsidiary of Hungarian peer MOL, will purchase Eni Croatia BV from the Italian Eni Group, thus becoming sole owner and operator of the Northern Adriatic and Marica offshore gas fields, according to a MOL announcement on the website of the Budapest Stock Exchange (BÉT).
A bill submitted by the government to Parliament late Tuesday would raise the revenue threshold for the Small Business Tax (KIVA) and phase out the Simplified Business Tax (EVA). The bill was among a plethora submitted during the day, affecting real estate investment trusts (REITs), late payments, bank transfers and other areas.