Hungary
Proposed defence spending hike to 5% of GDP exposes divisions among Nato members
Russia hawks in Poland and the Baltic States are firmly behind plan to increase defence spending to 5% of GDP, while other members question new target.
Hungary in talks with US on major business agreement to offset tariff impact
Hungary and the United States are holding behind-the-scenes negotiations on a potential business agreement aimed at mitigating the negative effects of US tariffs.
Budapest municipality to host Pride March on June 28 despite government opposition
The Municipality of Budapest will organise the 30th Budapest Pride event on June 28 as planned, reviving an earlier local tradition of holding a "freedom celebration" coinciding with the anniversary of the withdrawal of Soviet troops.
European Commission targets Hungary’s mandatory markup caps
The European Commission on June 18 launched infringement procedures against Hungary over mandatory markup caps on a range of food and non-food products that the government introduced to counter inflation.
Ruling Fidesz prepares for spending blitz as Hungary lifts campaign limits
Hungary's ruling Fidesz party has pushed through legislation to scrap campaign spending limits, paving the way for what analysts expect will be the country's most expensive election campaign to date.
Hungarian Parliament approves 2026 budget amid mounting fiscal risks
Hungary’s parliament has approved the 2026 state budget with a projected deficit target of 3.7% of GDP, a goal that analysts widely consider unsustainable given the country's current fiscal trajectory.
Who hold the most gold reserves?
In 2025, gold prices reached unprecedented levels, with spot gold trading at above $3,932 per troy ounce as of May 7th, an increase of over 83% within just a year.
Hungary to veto 'von der Leyen-Zelenskiy energy plan' over Russian import restrictions, foreign minister says
The European Commission is set to unveil a June 17 that would legally prohibit imports of Russian pipeline gas and liquefied natural gas into the European Union by the end of 2027.
Hungary taps international markets with $4bn bond deal to finance growing budget gap
The transaction included $1.5bn in five-year notes, a $1bn 10-year tranche, and $1.5bn in bonds maturing in 2055.
Hungarian government takes anti-Ukraine fearmongering to new heights
Hungarian Prime Minister Viktor Orban released an AI-generated video on his social media depicting bombed-out buildings, bloody battlefield scenes and rows of coffins, suggesting that Hungary could be drawn into the conflict in Ukraine.
US resists EU and UK push to cut Russian oil price cap at G7 summit
The US is resisting calls from European governments to reduce the G7 price cap on Russian oil from $60 to $45 per barrel, frustrating efforts by the EU and UK to increase financial pressure on Moscow as leaders meet for a G7 in Canada.
Hungary reiterates veto threat over new EU sanctions on Russian energy
Hungary to initiate the removal of a recommendation to phase out Russian energy imports from the agenda of EU energy ministers' summit in light of the situation in the Middle East.
Hungary’s battery sector remains in deep recession
Global overcapacity, cooling demand and domestic operational setbacks are weighing on EV battery production.
Suzuki holds firm in Hungary despite revenue drop, remains market leader
Net sales revenue of the local unit of Japanese carmaker Suzuki fell 21% to €2.25bn in 2024, with domestic revenue reaching €0.3bn, the company announced on June 12.
Hungarian pro-government security analyst allegedly linked to Russian intelligence
Georg Spottle, a German-Hungarian security policy commentator frequently featured in Hungarian pro-government media, has reportedly maintained contact with Russian intelligence operatives.
EC suspends excessive deficit procedure against Hungary
This year’s framework for the fiscal review of member states offers the chance to activate a National Escape Clause, allowing a temporary deviation from the net expenditure path set by the Council.
Hungary to sell majority of its defence industry interests to 4iG
Hungary is set to privatise the majority of its defence industry interests with 4iG, closely aligned with the government acquiring a 75% plus one vote majority in state defence company N7 Holding.
Hungary’s headline inflation edges up despite cap on profit margins
Hungary’s annual inflation rate accelerated to 4.4% (chart) in May from 4.2% in April, slightly exceeding market expectations, despite the cap on profit margins on food and household items. Consumer prices rose by 0.2% month on month.
Zelenskiy says Orban making "historic mistake" on Ukraine war in first interview with Hungarian press
Hungarian Prime Minister Viktor Orban has accused Ukrainian President Volodymyr Zelenskiy of launching a direct attack on Hungary, after the Ukrainian leader gave his first interview to the Hungarian press since Russia's full-scale invasion began.
Hungary’s state debt manager to double FX issuance target after government ups deficit forecast
Hungary’s Government Debt Agency has revised its financing plan after the National Economy Ministry raised its cash-flow deficit forecast by HUF651bn (€1.62bn) to HUF4.7 trillion for 2025 after the ministry released May budget figures.