Latest news in Hungary

- Train Troubles Continue: A technical failure at the Nagykanizsa railway station occurred due to a broken switch bolt, similar to an earlier derailment at Eastern Railway Station. Thankfully, the Tópart InterCity train was able to complete its journey with over twenty passengers on board without incident. MÁV is now under scrutiny after several trains have faced similar issues in the past, raising concerns about safety standards. Read more here.

- Interest Rate Waves: Attention on the American economic forecast could cause ripples in Hungary's economy as the US Federal Reserve considers interest rate cuts. Economic analysts predict a 25 basis point rate cut from the Hungarian National Bank on September 24. This may lead to a weaker dollar and a strengthening euro. Expect economic growth to remain sluggish with a forecasted GDP growth of just 1.8% for 2024. More details here.

- Austrian Border Suit Could Aid Commuters: Legal action has been taken against Austria due to prolonged border controls affecting daily commuters from Hungary since 2015. The NZP Nagy Law Firm aims not for financial gain but to set a legal precedent that could benefit over 130,000 Hungarian workers commuting to Austria. The first hearing is set for October 2, and if successful, it could facilitate claims for compensation from thousands of affected commuters. Read the full story here.

- US Ambassador's Warning: US Ambassador David Pressman expressed concerns about Hungarian governance at a recent foreign policy conference, emphasizing that actions against free press and civil society are not protecting Hungary’s sovereignty as claimed. He indicated that U.S. tolerance is waning amidst rising governmental rhetoric that appears more radical. Get the details here.