The Embassy of Sweden, the Swedish Trade Council and leading Swedish companies are organizing a Swedish-Hungarian Innovation Forum on October 4, 2012. The key note address will be held by Swedish Foreign Minister, Carl Bildt.

At its meeting on 28 August, the Monetary Council reviewed the latest economic and financial developments and voted to reduce the central bank base rate by 25 basis points from 7.00% to 6.75%, with effect from 29 August 2012.

The German Business Club in Budapest (Deutscher Wirtschaftsclub – DWC) has been – for twenty years now – active in the Hungarian-German Business community and plays an important role in the field of networking.

Putting off accession to the euro-zone could harm the Hungarian economy, European Economic and Monetary Affairs Commissioner Olli Rehn responded to a question by Edit Herczog, a Hungarian member of the European Parliament.

A delegation by the International Monetary Fund and the European Union, which held talks on precautionary financial assistance to Hungary in the past eight days, will return to Budapest in September, Hungarian Prime Minister Viktor Orbán has stated.

Hungary's Parliament passed the controversial Financial Transactions Tax Act on Monday. The bill levying a 0.1% tax on transactions - except for those connected to credit - had 249 MPs voting in favor of the proposal vs. 94 against.

In Hungarian Parliament on Monday, Prime Minister Viktor Orbán presented a program to increase jobs, consisting of ten points including major cuts in social security contributions and new simplified taxes for small businesses.

As requested over the weekend by Hungary’s chief aid negotiator Mihály Varga, who saw the pressure on the Hungarian market, Hungarian Parliament put off the vote on the planned amendments to the central bank law on Monday.

The volume of Hungary’s retail sales grew by 0.5% month on month in March, according to data adjusted seasonally and by calendar effects, the Central Statistical Office (KSH) reported. In annual terms, sales in retail shops increased by 0.9%.

Hungary future IMF negotiator, Mihály Varga, expects formal negotiations with the International Monetary Fund (IMF) and the European Union on a financial assistance program start as soon as early summer thanks to meeting the preconditions for the talks.

European Union finance ministers adopted a Commission proposal to suspend Cohesion Fund commitments for Hungary from 2013, Margrethe Vestager, Danish Minister for Finance, told a press conference on Tuesday.

The European Commission found that financing granted to Hungarian flag carrier Malév between 2007 and 2010 in the context of its privatisation and renationalisation constitutes illegal state aid and must be repaid to the state.

EU executive José Manuel Barroso has called on Hungarian Prime Minister Viktor Orbán to ensure that the nation’s Central Bank remains independent despite a controversial reform that gives the government more control over the bank.

Preparatory talks between Hungary's government, the IMF and the European Union on a precautionary loan were interrupted on Friday, Amadeu Altafaj Tardio, spokesman for Economic and Financial Commissioner Olli Rehn said.

Talks between the Hungarian government and international organizations about a financial safety net began this Tuesday. Despite earlier government statements, Hungary is likely to get a credit facility with the same conditions as in 2008.