PM: I have no ‘official relationship’ with Habony

Hungary’s Prime Minister Viktor Orbán said today at a press conference that the Hungarian government does not employ anyone “with such a name”, when queried by Hungarian daily index.hu about Árpád Habony, also known as Orbán’s advisor.

Government against Gyurcsány’s firm monitoring development policy

Nándor Csepreghy, deputy state secretary at the Prime Ministerʼs Office, said on Sunday that he had asked the European Commission to reconsider an assignment given to Altus, the company of opposition party leader Ferenc Gyurcsány, to monitor the operation of Hungaryʼs development policy programs, according to Hungarian news agency MTI

Former U.S. ambassador shares details about Hungary’s crony capitalism

Speaking to a retirement club in Connecticut, former U.S. ambassador to Hungary April H. Foley told her audience that Gazprom uses mediator companies to bribe politicians, index.hu reported yesterday. 

Hospital debt reaches new highs, supplier payments suspended

The accumulated debt of Hungarian hospitals reached HUF 83 bln in March, napi.hu reported yesterday. According to data published by the State Treasury, the total debt of hospitals increased by a remarkable HUF 7 bln. 

Thousands protest corruption around Hungary

Thousands marched against government corruption yesterday, in Budapest and more than 100 places around the country, in a day of demonstrations organized by opposition party Együtt, which translates as “Together”, according to reports.

Report: Orbán less popular despite economic improvements

Despite the remarkable economic turnaround Hungary has seen since Prime Minister Viktor Orbán took power in 2010, the popularity of the prime minister and his Fidesz party has been on a steep decline, paving the way for the rise of the far-right Jobbik party, according to an article published by Reuters yesterday.

Lázár proposes pay rise for public administration workers

Cabinet Chief János Lázár yesterday proposed that the salaries of employees in Hungaryʼs public sector should be raised by 30-50% as of July 2016.

Report: EC suspects ‘corruptionʼ in tenders

European funding for construction on a stretch of M4 highway was blocked because the European Commission found overpricing in the tenders, according to a report that was published today by online daily hvg.hu and cites documents received from the EC.

Hungarian state secretary visits Qatar

State secretary for economic diplomacy Levente Magyar promoted Hungarian real estate investments and farm products during a one-day visit to Doha yesterday, the Ministry of Foreign Affairs and Trade said.

Parliament approves law on career path model for law enforcement agencies, soldiers

Parliament yesterday approved legislation introducing a "career path model" for law enforcement agencies and soldiers. Under the legislation, the pay of Hungarians in law enforcement agencies and the army will rise on average by 30% from July of this year and by an annual 5% until January of 2019. 

Parliament approves bill on fund for Quaestor compenstion

The Hungarian parliament today approved a bill in an expedited procedure – 185 voting in favor and 5 voting against – to establish a top-up fund to compensate investors of failed brokerage Quaestor, Hungarian news agency MTI reported.

Bank association balks at Quaestor compensation

The Hungarian Banking Association today expressed concerns over a bill to establish a top-up fund, which would include a contribution from banks, to compensate investors of failed brokerage Quaestor, Hungarian news agency MTI reported.

Government could allow more companies to file simplified annual reports

The government could change accounting regulations to allow nearly all Hungarian companies to file simplified annual reports, draft legislation posted on the government website yesterday reveals. 

Sub-committee set up to scrutinize gov’t measures

The economy committee of Parliament today voted to set up a sub-committee to scrutinize government measures that may have allowed abuses at three brokerages that recently became insolvent – Buda-Cash, Quaestor and Hungária Értékpapír – MTI said. The chair of the subcommittee said the group would focus on problems occuring before Fidesz took power.

Government mulls lower VAT for some products

The Hungarian government is considering products for which it could reduce the VAT rate, National Economy Minister Mihály Varga said on commercial television TV2 on Friday.

Jobbikʼs candidate leads by-elections with 93% of vote counted

With a low turnout, after 99.13% of the votes were counted in the by-elections of Tapolca yesterday, the candidate of Hungaryʼs far-right radical Jobbik was leading with 35.27% of the vote, closely followed by ruling party Fideszʼ candidate with 34.38% and the Socialist and Democratic Coalitionʼs candidate with 26.27%...

Orbán: Punish bad brokers; polls not important

Addressing the Quaestor brokerage scandal Hungary’s Prime Minister Viktor Orbán said that “those who hurt clients need to be punished” in his regular fortnightly interview with state-owned Kossuth radio this morning. He also discussed the coming by-election in Tapolca and the plan to reduce the advertising tax.

Rogán: Beva threshold could be raised from €20,000 to €100,000

Hungary’s ruling Fidesz MPs will propose a bill that would raise the insured threshold of the Investor Protection Fund (Beva) from €20,000 to €100,000 by this evening, caucus leader Antal Rogán said late yesterday on state-owned M1 television according to online daily origo.hu. 

Government revamps education system to accommodate labor market

Hungaryʼs state secretary for workforce training yesterday announced the revisions the government will make to the education system in order to better serve the needs of the country’s labor market, Hungarian news agency MTI reported. 

Government office files criminal complaint over ETO Park investment

The government control office KEHI has filed a criminal complaint with police over the loan given by the state-owned Hungarian Development Bank (MFB) for the ETO Park stadium investment, state-owned television news channel M1 reported yesterday. 

Results: 20

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To be or not to be (an executive)?

To be or not to be (an executive)?

by Kinga Hetényi

Managing partner at Schoenherr Hetényi Attorneys at Law.

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