Hungary
NEMETHY: Is the world heading towards a “polycrisis”?
According to historian Adam Tooze, we are currently potentially facing a “polycrisis”: a number of smaller to medium-sized crises in the world that have the potential to combine and reinforce each other.
Hungary agrees on deferred payments with Gazprom for winter gas deliveries
Agreement helps ease pressure on Hungary’s widening current account deficit and steady the sinking forint.
Orban faces perfect economic storm of his own making
Hungary’s radical right-wing leader is struggling to cope with the country’s unfolding cost of living crisis, a task made much harder because of his pre-election spending spree and his isolation inside the European Union.
Czechs try to transform EU's relationship with Israel
As the current rotating president of the European Union, Prague has convened a meeting of the long moribund EU Israel Association to try to boost EU links with the Jewish state.
bneGREEN: Fit for 55 – not fit for purpose
The EU’s Fitfor55 efforts to reduce CO2 emissions by 55% by 2030 are woefully inadequate and unable to contain global warming to the 1.5°C target, with reductions of up to 77% needed instead to stand any chance of averting a climate catastrophe.
Hungary's 4iG signs new deal to acquire Israel's Spacecom
4iG allowed to acquire a 20% stake in satellite company as a "first step" and three years later take majority control if Israeli communications ministry approves.
Hungary’s forint slides to new low after central bank ends tightening cycle
The Hungarian currency has become the third worst-performing EM currency in 2022 after the Argentine peso and the Turkish lira.
Report says Russian gas supplies to Europe via TurkStream now endangered
Gazprom unit that operates pipeline said to be withdrawing all technical support.
More pain stored up for Emerging Europe in 2023
Government efforts to shield populations from the energy crisis and rampant inflation have shifted the economic impact to next year, says the EBRD as it downgrades GDP growth forecasts for 2023.
Analysts question Hungarian central bank's signal that it is ending tightening cycle
MNB raises base rate by 125bp to 13%, above the 75-100bp forecast, but calls time on further rate rises.
EBRD: Reduced gas supplies and inflation to slow growth further in EBRD regions
The European Bank for Reconstruction and Development (EBRD) projects growth in its region will slow as a result of gas supply problems that are feeding an energy crisis. The bank says growth will slow to 2.3% in 2022 in its region and 3% in 2023.
BRUEGEL: National policies to shield consumers from rising energy prices
The current increase in wholesale energy prices in Europe has prompted governments to try to shield consumers from the direct impact of an energy crisis that is sweeping the Continent and the rising prices that are costing hundreds of billions.
ING: Eurozone PMI suggests the region may already be in recession
The third decline in a row for the eurozone PMI indicates that business activity has been contracting throughout the quarter. This confirms our view that a recession could have already started.
VISEGRAD BLOG: Orban prepares to surf the populist wave again
But the Hungarian strongman may struggle both to exploit the cost of living crisis and to unite Europe's resurgent radical right, particularly if the Russian-Ukraine war grinds on.
Hungary to launch national consultation on EU sanctions against Russia
Viktor Orban’s latest move is another way of shifting the blame for economic woes following a procyclical and expansive fiscal policy in recent years.
EC proposes suspending two thirds of Hungary's cohesion funds
Hungary could become the first EU country to lose significant EU funds under the bloc's new Conditionality Mechanism.
European Parliament report names Hungary as 'hybrid regime of electoral autocracy'
The report puts pressure on the European Commission not to compromise with Viktor Orban's radical rightwing regime by releasing currently frozen RRF and Cohesion Funds.
Nuclear power's share dropped to record low in OECD, but solar jumped to record highs thanks to hot summer
Germany’s decision to take its nuclear power plants offline, coupled with production problems with France’s NPPs, saw the share of nuclear power in the OECD countries year to date fall to its lowest level ever, but solar boomed.
European Commission to decide in days on cutting funds to Hungary
Forint falls after reports that Brussels is set to cut Hungary's budget funding because of continuing failure to tackle corruption and make procurement more transparent.
Hungary’s automotive industry shifts to higher gear in July
Industrial production growth confirmed at 4%, and 6.6% according to workday-adjusted figures.
