The Hungarian government argues that next year’s budget bill, submitted earlier this week, is aimed at relaunching the economy. However, the bill has come under heavy fire from the Fiscal Council, the National Bank of Hungary and opposition parties for being an election-year budget designed to support key voting groups. Hungary’s 2022 budget targets economic […]
Due to the uncertainties caused by the epidemic situation, Sziget will not take place this year as it did last year. The organisers have announced that one of Europe's biggest festivals, which is Hungary's most important tourism event, is planning a big comeback in 2022. As the festival's website puts it, "Due to the global […]
In March 2021, the volume of industrial production exceeded the previous year’s low base level by 16.5%. Based on working-day adjusted data production rose by 16.2%. According to seasonally and working-day adjusted data industrial output was 0.4% higher than in February 2021. As the Central Statistical Office reports, all manufacturing subsections contributed to the growth. […]
Erste Bank Hungary closed the first quarter of this year with a profit after tax of HUF 15.1 billion. Operating income was 24.1% higher than in the same period of the previous year, while expenses increased by a much lower 6.3 %. Lending growth in both the retail and corporate segments slowed compared to last […]
Following an increase in the previous quarter, house prices fell by 1.4% in Budapest in the fourth quarter of 2020. Prices were 0.7% lower in the capital compared with the same period a year earlier. Down 0.4%, house prices also fell in rural cities in 2020 Q4. The annual increase in prices slowed from 8.7% […]
In week 17, the results of wastewater samples for coronavirus show strong fluctuations, with the decline of previous weeks halted. Sewage from most of the cities surveyed shows a stagnating trend, according to the National Center for Public Health. While in the northern and southern wastewater treatment areas of Budapest, Debrecen and Szolnok (the latter […]
German carmaker Audi is starting a new investment in its tool factory in Győr, NW Hungary. In the framework of the project of more than EUR 10 million, the current production hall will be extended by 3,800 square meters for exclusive series production, and the logistics hall will increase by 2,500 square meters. While retaining […]
Last year, the Hungarian government ordered the scrapping of parking fees in public areas, a measure they claimed would help avoid the spread of the new coronavirus infection. A new survey suggests the step did not really count for the population. The Hungarian government may soon end one of its most controversial pandemic measures, free […]
The European Parliament and the European Council accepted the application of 'Nagykunsági szilvapálinka’ (a plum brandy from the region of Nagykunság, E Hungary) in a resolution for the definition, description, presentation, labelling and the protection of geographical indications of spirit drinks. Regarding the chemical and physical properties, the ddescrition in the resolution says‘Nagykunsági szilvapálinka’ has […]
In March this year, 7,759 children were born and 16,379 people died in Hungary according to preliminary data, the country's Central Statistical Office reports. Compared to March 2020, the number of live births rose by 9.5% and that of deaths by 40%. 5,135 couples got married, which was 5.1% more than in the same period of the […]
This weekend, in the days leading up to the matriculation exams, students were due to have their graduate ceremonies but not held due to the pandemic. A foundation is to plant tens of thousands of fruit trees to commemorate their years as students. According to data from the Education Office and the National Office for […]
In Budapest, the millennium underground railway, the first underground tram on the continent, was launched on May 2, 1896. Even Franz Joseph I of Austria took a trip on the underground tram constructed for the opening of the monumental, millennial exhibition spanning across Hungary. In the course of its construction, state-of-the-art solutions in architecture were […]
The Dutch dairy company FrieslandCampina invests in capacity expansion and infrastructure modernization in Mátészalka, NE Hungary. The project related to the production of high value-added desserts and fermented milk products is to be realized from more than EUR 14 million, some 20% of which is covered by Hungarian taxpayers. FrieslandCampina is the world's largest cooperative-owned […]
Ericsson Hungary that supplies telecommunications and IT systems and is also engaged in research and development, will develop the next generation of the cloud-based IP Multimedia Subsystem (IMS) in the framework of an almost EUR 8.4 million R&D project. The project will be the cornerstone of cutting-edge telecommunications systems, according to the Hungarian Investment Promostion […]
Hungarian enterprises are slow to adapt to the use of Artificial Intelligence (AI) for business purposes as only 3% of local companies use AI in some form. This is less than half of the EU average, putting Hungary on the 25th slot on the list of 27 EU member states. Meanwhile Brussels is working on […]
