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 to the Budapest Business Journal 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

State road co. buys 80 John Deere tractors

Thursday 08:45, July 17th, 2014

Hungarian state road company Magyar Közút will aquire 80 new John Deere tractors at a cost of HUF 2.7bn, the company informed Hungarian news agency MTI yesterday.Read more

EC launches infringement procedures against Hungary

Tuesday 01:05, July 15th, 2014

The European Commission has launched infringement procedures against Hungary, charging that the country gave EC funds to pay for an electronic toll system without undergoing the appropriate tendering process, Hungarian news agency MTI reported today.Read more

Jobbik MP: We must fight exodus of youths

Monday 11:30, July 14th, 2014

Almost half of young Hungarians are considering emigrating for good, and the government is failing to tackle the issue, warns MP Gergely Farkas, of the right-wing Jobbik party.Read more

Govt to deduct from 98% supertax reimbursement

Thursday 01:45, July 10th, 2014

The government has decided that the personal income tax and the healthcare contribution will be deducted from refunds on the 98% supertax on severance payments, which the government must give to taxpayers under Constitutional Court and European Court rulings, the government spokesperson said on Wednesday.Read more

Leak: Roadbuilders face retroactive tax

Thursday 11:15, July 10th, 2014

The Hungarian government is planning to levy a retroactive tax of 15% on the revenue of roadbuilders who acquired more than HUF 100 mln in state grants for roadwork in the past seven years, Hungarian online daily 444.hu reported yesterday.Read more

Ministry suspends public company contracting

Wednesday 12:00, July 9th, 2014

All contracting, which is not necessary for everyday operations, is suspended for state-owned companies for the summer in order to lay the grounds for complete audit by the National Development Ministry, the ministry announced in a statement late yesterday.Read more

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