Attaining the 1.5% GDP growth targeted for 2012 will be "extremely difficult", Hungarian Prime Minister Viktor Orbán said at the London School of Economics on Thursday. The EU projects Hungarian GDP to be 0.5% next year.

Hungarian-born American billionaire investor György (George) Soros said in Budapest this Thursday that the current euro crisis has the potential to destroy the cohesion of the European Union, mainly due to its political nature.

The chairman of the Portuguese-Hungarian Chamber of Commerce, László Hubay Cebrian talks to Diplomacy and Trade about how the organization wishes to enhance business ties between the Potuguese-speaking world and Hungary.

Hungary will have the crisis taxes phased out as of 2013, a National Economy Ministry deputy state secretary confirmed earlier reports on Tuesday. The sectoral taxes are expected to generate HUF 1 billion in 2012.

Hungary hassigned new partnership agreements on EUR 153 million in funding from the European Economic Area (EEA) and the Norwegian Financing Mechanisms the country is getting in the years 2009-2014.

The Hungarian government has decided to re-launch forint-denominated state-subsidised home loans that will be available for the purchase of both new or used homes. Also, there will be housing subsidy on social grounds.

Hungarian parliament on Monday evening gave the green light to the ruling Fidesz party's scheme to offer holders of foreign currency-denominated mortgages the option to pay off their full loans at preferential rates.

Brussels expressed its concerns over the Hungarian government’s plan to help people with foreign currency-denominated mortgages by allowing debt pay-off well under the market rate. Austria is infuriated and “firmly rejects” the measure.

The latest plan by the government includes measures affecting the cost of borrowing, utilities prices and foreign currency-denominated mortgages. There may be a higher VAT rate for luxury purchases and the public jobs program expanded.

The Hungary's Economy Minister György Matolcsy has proposed increasing the value-added tax on luxury items in a letter sent to European Tax Commissioner Algirdas Semeta, the Ministry of National Economy said in a statement on Wednesday.

Hungarian government representative András Kármán and the British Ambassador to Hungary, Greg Dorey signed a Double Taxation Agreement in Budapest. The agreement reflects modern business developments between the two countries.

Hungary is to further reduce its public debt in October and November, taking it down from 77% of gross domestic product to 73%, Prime Minister Viktor Orbán told a news conference after a cabinet meeting on Tuesday.

Bank of China Ltd. may be a new addition to the currently 15-strong list of primary dealers of Hungarian government bonds, CEO of the State Debt Management Agency (ÁKK), Gyula Pleschinger told Bloomberg in an interview on Monday.

A new natural gas pipeline connecting Hungary and Croatia is now operational. It is a milestone event for Croatia as for the past 33 years, the country's only access to international gas pipelines had been a single line to Slovenia.

The legal framework for the Nabucco Pipeline has been finalized on Wednesday with the signing of the Project Support Agreements between NABUCCO Gas Pipeline International GmbH and the five transit countries.