Latest news in Hungary - 26 Mar 2025

New Leadership for Budapest Stock Exchange: Tibor Tóth has been appointed as the new CEO of the Budapest Stock Exchange, effective May 1, 2025, succeeding Richárd Végh. The Hungarian National Bank aims to enhance the capital market's development, liquidity, and transparency under Tóth's leadership. Read more here

Budapest City Council Divided Over Pride: During a heated City Council meeting, Fidesz representative Gergely Kristóf Gulyás questioned the Tisza Party's stance on supporting Pride, leading to lively debates about sexuality in public spaces. Ultimately, the council declined to include Pride-related proposals on the agenda, favoring arguments about focusing on 'real issues' instead. Read more here

Miklós Hajnal Steps Aside for Péter Magyar: Momentum MP Miklós Hajnal has announced he will not run for re-election in the Hegyvidék electoral district in 2026, allowing Péter Magyar to contest as an independent candidate. Hajnal emphasized the need for unity in their shared goal of political change, while also reflecting on his experiences and achievements in past elections. Read more here

Graffiti Vandalism at Tündér Rock: Vandalism at the peak of Tündér Rock, part of the Budai Landscape Conservation Area, has led to the destruction of several square meters of habitat, including potential damage to rare protected plant species. The Duna-Ipoly National Park emphasizes the non-renewable nature of these rock formations and urges visitors to respect this vulnerable environment. Read more here

Protests Against Pride Law in Budapest: Activists in Budapest have staged protests against a law banning Pride events, occupying multiple bridges and blocking traffic. The demonstrations were led by independent MP Ákos Hadházy, who criticized the government's actions, stating that the assembly law is just the first step in a broader attempt to restrict freedoms. Read more here

Hungarian Economy Forecast Amid Rising Inflation: As inflation in Hungary rises to 5.6%, Erste analysts predict a euro to forint exchange rate of up to 415 by year-end, amidst cautious optimism for a 2% growth in 2025. The strengthening of the forint appears temporary, tied to global economic shifts largely influenced by American demand for European goods. Read more here

MNB Scandal Unveiled: A leaked draft report from the State Audit Office reveals serious asset management issues at the Hungarian National Bank’s foundation, implicating the MBH Bank in a €170 million loan without mentioning its name in the final report. The audit highlights potential conflicts of interest involving Prime Minister Orbán's associates, with the investigation into the mismanagement of funds now underway. Read more here

Increase in Crime Rates in Budapest Amid Fewer Traffic Violations: Budapest has seen a rise in crime, reaching 46,000 incidents in 2024, while the city celebrates a decrease in fatal traffic accidents by 25% and a significant drop in speeding violations. Although property crimes like theft have surged, police efforts led to a decrease in homicides and bodily harm incidents. Read more here

-