House speaker notes centenary of WWI

Wednesday 11:00, July 30th, 2014

Europe will only have a future if its nation states are based on Christian morals, creative work and fair international cooperation, House Speaker László Kövér said on Monday, according to hvg.hu.Read more

Ombudsman asks gov't to discuss Norway funds

Wednesday 09:00, July 30th, 2014

The governments of Hungary and Norway must consult on the interpretation of an existing contract that governs the management of Norway Funds, the ombudsman for basic rights was reported as saying.Read more

Socialists call on Seszták to resign

Tuesday 08:35, July 29th, 2014

The opposition Socialists have called on development minister Miklós Seszták to resign, repeating complaints that the minister assisted in questionable deals as an attorney in the past.Read more

Official: No big changes to handling of EU funds

Monday 02:30, July 28th, 2014

Hungary's Directorate General for Audit of European Funds has recommended changes to internal regulations as well as efforts to maintain a headcount in a review of the country's revamped system for managing European Union funding, a government official told Hungarian business daily Napi Gazdaság today.Read more

Orbán's rejection of liberal democracy draws fire

Monday 10:45, July 28th, 2014

Hungarian Prime Minister Viktor Orbán's speech on Saturday, in which he said Hungary is not a libral democracy and that freedom is not the core value of the state, drew criticism today from the liberal opposition, while the far-right Jobbik party agreed with some aspects of the speech.Read more

New MSZP leader wants to get back to basics

Monday 09:05, July 28th, 2014

József Tóbiás, the new leader of the opposition Hungarian Socialist Party, has promised to strengthen the party, saying that a strong left wing is needed to make Hungary strong, nol.hu reported.Read more

Navracsics: More sanctions may be justified

Friday 08:40, July 25th, 2014

The escalation of conflict in eastern Ukraine could justify imposing a third package of EU sanctions on Russia, Hungarian Foreign Minister Tibor Navracsics said. Read more

Website says it prodded Lázár into billing EC

Thursday 01:20, July 24th, 2014

János Lázár, head of the PM’s Office, today ordered the State Treasury to send Brussels the invoices for the past quarter, after Hungarian news portal 444.hu pointed out yesterday that those invoices have not been sent.Read more

German bank to sell MKB to Hungarian Government

Thursday 12:50, July 24th, 2014

In order to be eligible for support from the German state, BayernLB Bank will sell MKB Bank to the Hungarian government, according to reports.Read more

Q&A: Econ ministry on foreign direct investment

Thursday 10:15, July 24th, 2014

In this interview from the July 4-17 print edition of the Budapest Business Journal, Antal Nikoletti, deputy state secretary responsible for external economic relations at the Ministry of National Economy, talks about FDI flows, the future shape of Hungary’s economy, and the need for banking reform. Read more

Áder sets date of local elections for Oct. 12

Thursday 08:40, July 24th, 2014

Hungarian President János Áder has set the date of Hungary's 2014 local elections for October 12, 2014. The July 21 ruling of the Constitutional Court created an unambiguous and clear situation in the legal regulation of local elections, a statement published on the website of the Presidential Office said yesterday.Read more

Official: Gov't to revisit spending freeze in December

Tuesday 12:00, July 22nd, 2014

The Hungarian government is expected to make  decision in December on whether to free up or cancel HUF 110 bln in frozen budget expenditures, state secretary Péter Benő Banai reported during an online press conference yesterday.Read more

Varga: Budget still on track to hit target deficit

Tuesday 11:00, July 22nd, 2014

National Economy Minister Mihály Varga reaffirmed the government’s commitment to achieving this year’s GDP deficit target of 2.9%, in an interview on Hungarian commercial television channel Hír TV late yesterday.Read more

Hungary to open two new consulates-general in Germany

Tuesday 10:50, July 22nd, 2014

Hungary will establish two new consulates-general in Duesseldorf and Stuttgart, Germany, the Hungarian foreign minister said after negotiations with his German counterpart in Berlin yesterday.Read more

Deficit at 82.6% of full-year target by June

Tuesday 09:15, July 22nd, 2014

Hungary's cashflow-based general government deficit, excluding local councils, came to HUF 813.7 bln by the end of June, equivalent to 82.6% of the full-year target, detailed data released by the National Economy Ministry late yesteray show.Read more

Varga: Personal income tax to stay as is

Monday 12:50, July 21st, 2014

Although Prime Minister Viktor Orbán expressed hopes of lowering the personal income tax to a single digit figure just a few weeks earlier, National Economy Minister Mihály Varga said in an interview that personal tax rate will not go below 10%, Hungarian news weekly HVG reported on its website today.Read more

MAL assets offered for HUF 17 bln

Friday 12:30, July 18th, 2014

State-owned liquidator Nemzeti Reorganizációs Nonprofit offered the assets of troubled aluminum-oxide maker MAL for the price of HUF 17 bln, the official company publication Cégközlöny reported.Read more

Orbán: Spending freeze precautionary measure

Friday 10:40, July 18th, 2014

The HUF 110 bln freeze in central budget spending, which was announced yesterday, is a “precautionary measure”, Hungary’s Prime Minister Viktor Orbán said in his regular radio interview today.Read more

RTL Klub CEO: We'll stay and fight

Thursday 02:30, July 17th, 2014

Although his company has been singled out for a special tax, the RTL Klub CEO vows to stay in Hungary and continue broadcasting investigative reports that are critical of the government. Read the BBJ interview wih CEO Dirk Gerkens and his news director.Read more

PM: No tax policy at a European level

Thursday 02:25, July 17th, 2014

The European Union should stop taking away power from Member States, Hungary’s Prime Minister Viktor Orbán said in Brussels yesterday, before attending an EU summit. “Matters of principle must come before personal decisions” said Orbán.Read more

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Bad for business and democracy

Bad for business and democracy

Budapest Business Journal