DK Calls on Government to Reduce Dependence on Russian Energy
The opposition Democratic Coalition (DK) is calling on the government to start efforts to reduce Hungary’s dependence on Russian energy.
Adam
Economy
Economic Development Minister Informs Banking Association on Decision to Cut Extra Profits
Economic Development Minister Márton Nagy has informed the Banking Association about the government’s decision to strip several sectors, including banks, of their extra profits. In a statement, the minister said, “we are in extraordinary times… which call for extraordinary measures”.
Orbán Announces Windfall Taxes
Hungary’s government will require banks, insurers, retail chains, energy companies, telcos and airlines to contribute their “extra profits” to a utilities fund and a defence fund for a period of two years, Prime Minister Viktor Orbán said in a video message on Facebook on Wednesday.
Higher Minimum Wage, Public Sector Pay Lifts Wage Growth
The average gross wage in Hungary climbed an annual 17.5% to 511,400 forints (EUR 1,338) in March, data released by the Central Statistical Office (KSH) on Tuesday show.
DK Slams Government for Not Preventing Exports of Hungarian Grain
The opposition DK party has criticised the government for not preventing the exports of Hungarian grain despite having pre-emption rights to buy it.
Hungary Gas Stores at 25% Capacity
There were 1.6 billion cubic metres of gas in Hungary’s underground stores, just over 25% of capacity, by mid-May, the Hungarian Energy and Public Utilities Regulatory Office (MEKH) said on Monday.
DK Calls on Government to “Stop Raising Prices”
The Democratic Coalition (DK) calls on “the illegitimate government and all Fidesz oligarchs to stop raising prices,” the spokesperson for the opposition party’s parliamentary group said at a press conference streamed on Facebook on Sunday.
LMP Pledges to Allocate HuF 300 BN for Energy Efficiency Programs
Opposition LMP wants to allocate 300 billion forints (EUR 780m) for energy efficiency programmes, including installing insulation, changing windows and upgrading heating systems, MP Bernadett Bakos said at a press conference streamed on Facebook on Saturday.
Hungary Q1 GDP Grows 8.2%
Hungary’s GDP grew by an annual 8.2% in the first quarter, albeit from a low base, a first reading of data released by the Central Statistical Office (KSH) shows. Adjusted for calendar year and other effects, GDP rose by 8.0%.
Coordinated Fiscal, Monetary Policy Needed to Tackle Inflation
Fiscal and monetary policy will have to be coordinated to bring down inflation, and the government should focus on the spending side to restore balance to the budget, Barnabás Virág, deputy governor of Hungary’s central bank (NBH), told a conference.