Latest news in Hungary - 21 Nov 2024

- CATL Explores Battery Recycling Plant in Europe: Chinese battery manufacturer CATL, currently establishing a significant battery cell factory in Debrecen, is in talks to open a battery recycling plant in Europe, possibly in Hungary. This strategy reflects their commitment to sustainability amidst slowing electric vehicle demand from clients. Read more here

- Upcoming Deputy Mayoral Elections in Budapest: Mayor Gergely Karácsony plans to propose candidates for new deputy mayors during the November Metropolitan Assembly. This comes after a two-month vacancy in the position, indicating important shifts in Budapest's political landscape. Read more here

- Minimum Wage Set to Increase by 36% Over Three Years: The Hungarian government is nearing a deal to boost the minimum wage by 36% by 2027, with discussions centering on how these increases will be structured in the upcoming years. This proposal reflects ongoing efforts to support workers amid rising living costs. Read more here

- Internet and Phone Prices Drop: Promotions by Magyar Telekom led to a 6.8% drop in phone and internet prices last month, contributing to lower-than-expected inflation rates in Hungary. This notable decline in prices marks a shift in the telecommunications sector. Read more here

- Electric Vehicle Manufacturing Boosts Exports: Hungarian exports rebounded in September, hitting €12.3 billion largely due to the rising battery manufacturing sector. This surge indicates a positive turn following a period of sluggishness, with a trade surplus of €1.2 billion contributing to a favorable trade balance for the year. Read more here

- Budapest Unveils First Life-Size LEGO Tram: A life-size LEGO tram made from nearly 1.8 million bricks is now on display in Deák Ferenc Square, celebrating 137 years of tram transport in Budapest. This unique installation is expected to draw both locals and expats looking for fun winter activities. Read more here

- Celebrating Hungarian Heritage in Animation: A new animated short film showcases notable figures of Hungarian descent, highlighting their contributions to society. This unique initiative aims to educate and celebrate Hungarian heritage, promoting awareness of influential individuals globally. Read more here

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