Hungarian Prime Minister Viktor Orbán vehemently opposed the inclusion of Ukraine's accession talks in the upcoming European Council summit on December 14-15, potentially derailing a decision that could shape Ukraine's European future. Orbán's objections introduce an element of uncertainty to Ukraine's aspirations and the broader dynamics of EU decision-making. Hungarian premier Viktor Orbán took to […]
While third-quarter GDP data surprised on the upside, the underlying weaknesses of the Hungarian economy will mar the 2024 economic rebound, according to a report by BMI, a Fitch Solutions company. A challenging external environment and a tight fiscal position all point in the direction of suboptimal growth next year. In the third quarter of […]
Hungary's ruling Fidesz party, led by Prime Minister Viktor Orbán, has presented a bill to Parliament aimed at safeguarding the nation from what it perceives as unwarranted political interference by foreign entities. This legislative initiative underscores Orbán's commitment to positioning himself as a staunch defender of Hungary's sovereignty and interests. The proposed bill on "protecting […]
Hungary's Prime Minister, Viktor Orbán, has raised concerns over Ukraine's readiness to join the European Union, hinting at a possible roadblock for the country's EU membership talks. This comes just two days after Brussels recommended the initiation of membership discussions, setting the stage for a potential clash at the upcoming EU leaders' meeting in mid-December. […]
In the wake of a meeting between Hungarian Prime Minister Viktor Orbán and Russian President Vladimir Putin, Gazprom, the state-owned Russian energy giant, has announced its intentions to bolster natural gas shipments to EU-member Hungary. This decision has come at a time when the European Union (EU) is actively striving to reduce its dependency on […]
Russian President Vladimir Putin and Hungarian Prime Minister Viktor Orbán have underlined their commitment to bilateral relations amidst escalating international tensions stemming from the ongoing conflict in Ukraine. This reaffirmation of ties occurred during their recent encounter at an international forum held in China. Viktor Orbán became the first European Union leader to publicly shake […]
An informal European Union summit convened in Granada, Spain, took an unexpected turn when the Prime Ministers of Hungary and Poland blocked a joint EU declaration on migration. The two leaders compelled delegates to omit a passage regarding member countries' views on migration from the carefully crafted declaration that had been in the works for […]
Hungarian lawmakers will vote on Sweden’s NATO accession bid after parliament’s summer recess the earliest as the issue has not been put on the agenda of the last session before the summer break. Hungary is the only EU member state not to ratify Sweden’s bid after the latter’s criticism of eroding democratic values and a […]
The Hungarian law forcing migrants to seek asylum abroad is illegal, the EU’s top court ruled. Budapest violated EU asylum laws by forcing people to first go to Hungarian embassies in Serbia and Ukraine before initiating a claim for international protection, the European Court of Justice said. The European Court of Justice (ECJ) ruled this […]
Hungary will eventually have to adopt the single European currency, but moving too soon would cost the nation’s economy, the governor of the National Bank of Hungary said. György Matolcsy stressed that the country will be ready for euro adoption by 2030. The National Bank of Hungary has a clear and firm position: Hungary must […]
A resolution adopted by the European Parliament questions Hungary’s ability to fulfill the rotating EU presidency in a credible manner given the backsliding of rule of law in the country. Budapest dismissed the non-binding resolution as political pressuring and is convinced that the Hungarian presidency will take place as planned. Hungary is set to assume […]
The Hungarian central bank kicked off a cautious monetary easing cycle while stressing its commitment to combatting inflation, which is the highest in Europe. Analyst expect policy makers to proceed gradually and halt rate cuts if the economic and financial backdrop deteriorates. The National Bank of Hungary cut interest rates this week, becoming the first […]
A delegation of the European Parliament’s Budgetary Control committee concluded a fact-finding visit in Budapest this week. The members of the European Parliament (MEPs looked into ongoing issues with the protection of the EU budget and met with Hungarian public officials, NGOs and journalists. The group of European Union (EU) lawmakers visiting Budapest expressed concerns […]
Hungarian lawmakers are delaying a crucial vote on the NATO accession bid of Finland and Sweden in a move that analysts believe is designed to exert pressure on the EU. The Union has frozen billions of euros in funding destined to Hungary over rule of law concerns and Budapest may be playing quid for pro […]
Hungary’s economic competitiveness to a very large extent hinges on the government’s ability to ensure energy security for the country, according to the German Chamber of Commerce. In addition to energy costs, the security of supply is also for crucial businesses operating in Hungary. German foreign direct investment is a key engine of Hungary’s economy. […]
