Latest news in Hungary - 20 Feb 2025

- New Residential Development in Balatonföldvár: A prime plot once occupied by a hotel in Balatonföldvár has been sold for 1.3 billion forints, set to be developed into residential units and include a tennis court, children's camps, and a café. Importantly, the beach access will remain public. Read more here

- Changes Ahead for Seasonal and Casual Work Regulations: The Hungarian government is reviewing new regulations affecting seasonal and casual work due to concerns from agricultural companies. Adjustments are aimed at balancing tax obligations with workforce needs in agriculture and tourism, coinciding with an increase in the minimum wage to 290,800 forints in 2025. Read more here

- Nurse Shortage in Hungary: Hungary faces a significant healthcare crisis with over 10,000 nursing positions unfilled and at least 30,000 healthcare professionals needed nationwide. Reports highlight issues of burnout and low salaries compared to doctors, which remain at only 30% of their earnings despite recent pay increases. Read more here

- Government Proposes Changes to Kindergarten Education: Proposed changes in kindergarten regulations may lead to more structured settings for children transitioning to first grade, emphasizing individualized development. Critics worry this could create more burdensome school-like requirements instead of fostering a personalized learning experience. Read more here

- BKK Pass Program Reduces Parking Stress in District II: District II has seen success with a program allowing residents to switch parking permits for annual BKK transport passes, resulting in nearly 300 fewer cars occupying parking spaces. The initiative comes amid rising parking permit fees, leading to a 22% drop in renewals. Read more here

- Confidence Among Hungarian Business Leaders Declines: A PwC survey indicates only 39% of Hungarian business leaders expect revenue growth in 2025, marking the lowest confidence level since records began. Despite 60% optimism for economic recovery, predicted GDP growth stands at just 1.8%. Read more here

- Szijjártó Meets U.S. Treasury Secretary: Hungary's Foreign Minister, Péter Szijjártó, held talks in Washington with U.S. Treasury Secretary Scott Bessent to discuss enhancing economic cooperation and renegotiating tax agreements in light of the ongoing war in Ukraine and related sanctions. Read more here

- Upcoming Interest Payments on Government Bonds: Starting February 20, Hungary's Debt Management Center will distribute over 400 billion forints in interest payments on Premium Hungarian Government Bonds. Investors should note impending rate changes that may impact their decisions. Read more here

- LMP Parliamentary Faction Disbands: The LMP parliamentary faction disbanded following a member’s departure, resulting in a loss of funding and resources for the party amid ongoing struggles within the opposition landscape. Read more here