Magyar Telekom today announced the resignation of its CEO Christopher Mattheisen. He will leave the company as of July 1, and will be replaced by Tibor Rékasi, chief commercial officer for residential services since January last year.
The European Commissionʼs draft 2021-2027 EU budget, which will be released in May, plans to shift EU cohesion funding away from Central and Eastern Europe to countries hit harder by the financial crisis, the Financial Times reported Monday. The EC wants to shift the criteria away from GDP per capita towards core EU values.
Markets have welcomed the political continuity brought by the landslide victory of Hungary’s Fidesz-KDNP coalition on April 8, analysts say unanimously. Some warn, however, that loosening fiscal policy further – as promised by the prime minister in the election campaign – might be problematic in the longer run.
Hungaryʼs cash flow-based general government, excluding local councils, ran a HUF 871.9 billion deficit at the end of March, the Ministry for National Economy confirmed in a second reading of data released Monday. The deficit thus reached 64.1% of the HUF 1,360.7 bln full-year target.
In April, research institute GKI’s Economic Sentiment Index remained slightly lower than its historic peak in February. According to the empirical survey conducted by GKI with the support of the EU, expectations deteriorated in the business sector within the statistical margin of error, whereas they continued to rise among consumers.