Watchdog Puts Bank Fees Under Heightened Scrutiny
The National Bank of Hungary (NBH) said it will make scrutinising changes to lenders’ fees a “priority” as banks pay a windfall tax and the transactions duty is extended.
Adam
Economy
Hungary Housing Market Facing Big Challenges in Next 2-3 Years
Property developers face momentous challenges in the next 2-3 years due to ballooning construction and financing costs, a property association head has said.
DK Calls for 0% VAT for Basic Foods
The opposition Democratic Coalition has called on ruling Fidesz to vote for its earlier proposal cutting VAT for basic foodstuffs to zero percent.
Price of the Euro Exceeded 400 Forints
The price of the euro crossed the psychological limit of 400 forints again on Monday afternoon.
LMP Proposes Semiannual Pay Rise to Public Employees
The opposition LMP has proposed that the government should ensure a pay rise twice each year to employees of the public sector to compensate for inflation.
Budget Deficit HuF 2,737 BN at End-May
Hungary’s cash flow-based budget deficit, excluding local councils, reached 2,737.0 billion forints (EUR 7.0bn) at the end of May, the finance ministry said in a first reading of data.
Opposition Parties Slam Draft Budget as “Austerity Budget”
Opposition parties have slammed the Hungarian draft budget submitted on Tuesday as “an austerity budget”. Jobbik deputy leader Dániel Z. Kárpát said the budget contained austerity measures to the tune of 2,000 billion forints (EUR 5.1bn), “including indirect effects”. He insisted the government was allowing multinationals and banks to pass growing burdens on to consumers. […]
DK Calls on Government to Preserve Utility Price Cuts for Municipalities
The opposition Democratic Coalition (DK) is submitting a draft proposal requesting that the government maintain the cap on energy costs for local governments.
LMP Calls for Wage Increase to Match Inflation in Public Sector
The co-leader of opposition LMP called for wage increase in the public sector to match inflation on Wednesday. Máté Kanász-Nagy told a press conference that raising the salaries of Prime Minister Viktor Orbán and other government members was not enough for guaranteeing the quality of public services.
Hungary Trade Balance Shows EUR 475 M Deficit in April
Hungary’s trade balance showed a 475 million euro deficit in April, the Central Statistical Office (KSH) said in a first reading of data. Hungary had a trade deficit for the tenth month in a row, KSH said. Exports rose by an annual 12.1% to 11.052 billion euros and imports climbed by 21.1% to 11.527 billion. […]