Latest news in Hungary - 5 Dec 2024

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- OECD Revises Hungary’s Economic Growth Outlook: The OECD has lowered its forecast for Hungary's economic growth to 0.6% for 2023 and 2.1% for 2024, compared to the government's expectation of 3-6%. Concerns include low investor confidence and the need for significant reforms in areas like pensions and digitalization. Read more here

- Budapest's Budget Disputes Continue: Mayor Gergely Karácsony opposes what he calls "confiscatory overtaxation" from the central government as Budapest prepares its 2025 budget. The city plans to cut solidarity contributions significantly, a move now under Constitutional Court evaluation, potentially affecting future budget management. Read more here

- Significant Salary Increases for Teachers in 2025: Starting January 2025, teachers in Hungary will see an average salary increase of 21.2%, impacting around 140,000 educators. This is part of a government initiative to raise teacher salaries to 80% of the average graduate salary by 2025. Read more here

- Political Landscape Shifts as Tisza Party Gains Support: Recent polling indicates the Tisza Party is gaining traction against the ruling Fidesz party, with them leading by 11 percentage points among likely voters. The results reflect a growing desire for change among the electorate amidst economic difficulties. Read more here

- Sziget Festival 2025 Lineup Announced: The initial artist lineup for the 2025 Sziget Festival includes Charli XCX, Chappell Roan, French duo Justice, and more. This year's event promises a vibrant mix of genres and well-known performers. Read more here

- Controversial Battery Factory Hearings in Debrecen: Non-public public hearings are scheduled for a new battery factory by Chinese firm Eve Power in Debrecen, which has sparked public unrest over residents' right to participate in the process. The factory project represents a significant investment but faces scrutiny. Read more here

- Miskolc Line Renovation Completes: MÁV has finalized upgrades on a major section of the Miskolc main line, removing speed restrictions and enhancing commuter reliability. The renovations represent an investment of 18 billion forints, aiming to improve travel times. Read more here

- Winter Weather Conditions Expected: Hungary will experience a mixture of sunny and cloudy weather, with temperatures ranging from 2 to 7 degrees Celsius this Thursday. Rain is anticipated to return, potentially leading to sleet or snow in some areas. Read more here

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