Latest news in Hungary - 17 Dec 2024

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- Mihály Varga's Central Bank Nomination: Finance Minister Mihály Varga defended his nomination as governor of Hungary's central bank before Parliament, asserting a commitment to price stability and a 3% inflation target. The committee voted 11-5 in his favor. Read more here.

- Forint Strengthens Against Euro: The forint has dipped below 408 forints to the euro for the first time since November, with Mihály Varga outlining plans for a stable exchange rate during his nomination hearing. Read more here.

- Development Disparities Addressed by Orbán: PM Viktor Orbán highlighted the stark regional development gaps in Hungary, emphasizing a commitment to rural development with a planned investment of 330 billion forints next year. Unemployment rates in areas like Bács-Kiskun have drastically dropped as a result of these efforts. Read more here.

- Concerns Over Railway Station Privatization: A controversial amendment in Parliament proposed limiting public ownership of new railway development project companies to only 10%. Critics argue this may lead to privatization of significant railway properties. Read more here.

- BME's Governance Structure Overhaul: The Budapest University of Technology and Economics (BME) is negotiating a shift towards greater autonomy from state control, which includes restructuring its governance into a corporate model. Read more here.

- EU Sanctions Against Russia Approved: Under Hungary’s EU presidency, a new sanctions package against Russia has been approved, targeting individuals and organizations involved in military actions in Ukraine. This includes shipping restrictions and sanctions on Chinese companies supplying drone parts. Read more here.

- BKK Introduces "Boarding Button" for Public Transport: Budapest's public transport provider, BKK, has launched a new app feature allowing passengers with travel passes to board without scanning codes, promoting ease of access on buses and trolleys. Read more here.

- Upcoming Changes in Fertility Law: The European Commission has escalated infringement procedures against Hungary due to laws nationalizing fertility clinics, arguing these go against EU principles. Hungary has two months to address this or risk legal action. Read more here.

- Government Allocates 165 Billion forints for Transport: The Hungarian government is reallocating significant budget funds to support intercity and suburban transport amid rising costs, benefiting major transport companies like MÁV and Volánbusz. Read more here.

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