Latest news in Hungary - 20 May 2025

Man in Baja Charged with Drug Counterfeiting: A Baja resident faces charges of drug counterfeiting after being caught storing nearly half a million unlicensed medication tablets in preparation for illegal distribution. Prosecutors allege he repackaged and mailed 62 packages of medications—some enough for up to 542 years of treatment—originating from India that cannot be sold in Hungary. Read more here

Fatal Accident on M6 Motorway: A serious head-on collision on the M6 motorway near Kisnyárád has resulted in two fatalities, with a full road closure in effect between Véménd and Babarc. The incident occurred on the Pécs-bound side, involving three vehicles, one of which caught fire but was extinguished before emergency services arrived. Read more here

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Largest Cigarette Manufacturing Network Uncovered: The National Tax and Customs Administration (NAV) has dismantled Hungary's largest illegal cigarette manufacturing network, seizing over 1 million counterfeit cigarette boxes and 156 tons of tobacco worth a total of 24 billion forints. The investigation led to multiple arrests and revealed a criminal conspiracy primarily involving Moldovan-Romanian citizens. If the products had reached the market, they would have resulted in an estimated 81 billion forints loss in tax revenue. Read more here\

Samsung Plans Expansion of Göd Battery Factory: Samsung SDI will raise approximately 1.65 trillion won (400 billion forints) through the issuance of 11.8 million shares at a price of 140,000 won each to finance the expansion of its battery factory in Göd, Hungary. This decision comes as the company adjusts its original fundraising goal due to recent declining sales. Read more here

Budapest Mayor Discusses Pride and EU Concerns: In an interview, Budapest Mayor Gergely Karácsony addressed the dismissal of the BKV director, ongoing government negotiations, and his concerns over the future of the Pride event in relation to recent legislation impacting LGBTQ rights. He emphasized the importance of the EU's role in advocating for democracy and rights amidst these challenges. Read more here

Record Foreign Currency Holdings in Hungary: Hungarians are holding a record amount of money in foreign currency, with over 6% of cash and 27.8% of bank deposits currently in foreign currencies. As of March, households had nearly 5 trillion forints in foreign currency, with almost 2.2 trillion forints kept in foreign banks. This trend is partly attributed to the growing popularity of international finance platforms like Revolut. Read more here

Hungarian Parliament Approves Withdrawal from ICC: The Hungarian Parliament voted 134 to 37 in favor of a proposal for Hungary to withdraw from the International Criminal Court (ICC), citing concerns over the court's political motivations, particularly regarding its recent actions against Israeli leaders. The withdrawal will take effect in one year, with officials arguing that the ICC has discredited itself through perceived politically motivated decisions. Read more here

New Subcontractor Transparency Law Passed: The Hungarian Parliament has approved a proposal from János Lázár that allows the state to require contractors to disclose all subcontractors involved in state investments, aiming to enhance transparency for small and medium-sized enterprises. The proposal gained backing from 135 representatives, with recent tensions with Strabag over construction quality highlighting its importance. Read more here

MP Auctions Ballot Supporting Pride: András Jámbor, an independent MP, is auctioning the ballot from Hungary's recent constitutional judge election, with proceeds supporting Budapest Pride. The auction follows the election of Péter Polt and Csaba Hende as judges, marking a notable change in the National Assembly amidst ongoing political tension. Read more here

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