Latest news in Hungary - 13 Nov 2024

- Alanis Morissette Concert in Budapest: Iconic singer-songwriter Alanis Morissette will perform at Budapest Park on July 21, 2025, as part of her Triple Moon world tour, celebrating the 30th anniversary of her hit song “Ironic.” Tickets go on sale on November 15. Read more here

- Hungarian Households Hold €200 Billion in Savings: Deputy Governor of the Hungarian National Bank, Virág Barnabás, reports that households now hold €200 billion in saved assets, equivalent to 110% of Hungary's GDP. This presents opportunities for boosting investments in innovative companies, which lag behind the EU average. Read more here

- Budget Concerns for Budapest: Mayor Gergely Karácsony criticized the 2025 draft budget, claiming it imposes a "financial war" on municipalities, especially Budapest, which faces increased contributions to the state treasury that may hinder its operational capabilities. Read more here

- Electricity Prices Soar in Hungary: On November 12, Hungary experienced a spike in electricity prices nearing 900 euros/MWh due to cold weather and power plant maintenance issues, raising concerns about the energy infrastructure and reliance on imports. Read more here

- Concerns Over Privatization of Hungarian Research Network: The proposed privatization of the Hungarian Research Network is causing alarm, with fears it may lead to the dissolution of research institutes and concerns regarding academic independence and transparency. Nearly 700 employees have signed a petition against the changes. Read more here

- Changes Coming to Parental Loan Conditions: The Hungarian government is revising parental loan conditions to reinstate interest-free status under specific conditions, which may impact new and existing loans. Read more here

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