Hungarian Conservative

The new Task Force set up by the Finance Ministry has been portrayed as a sign of austerity measures to come by the opposition media, however, the Ministry has debunked these speculations in a press release. In their statement, the Ministry assures the people of Hungary that family support schemes and the utility price cap will remain in place.

Mária Ádám-Haszonics, Zoltán Lomnici, András Patyi, and Réka Varga have all been confirmed to the Constitutional Court by a two-thirds majority vote in the parliament, replacing the four term-limited former justices on the 15-member panel. The Court has the power to strike down legislation if they find it incompatible with the Fundamental Law of Hungary.

The Minister of Foreign Affairs stated at a press conference on Tuesday that Hungary will keep its promise of not holding up Sweden’s joining of NATO, thus it is ready to back it once Turkey is. However, a recent incident of Quran burning in Stockholm may set the process back for some time again.

‘There is also a way to deal with the world’s largest economy, for the US Dollar (USD) is not going to decline anytime soon. Those who claim that the USD is in decline often argue that for centuries, reserve currencies have risen and fallen in tandem with their home economies. As the US’ share of the global economy diminishes, economists argue, so too will the USD and its global hegemony. A fascinating yet hardly conclusive argument since there has never been a dominant global reserve currency prior to the USD. Quite the contrary, the USD is the only currency ever to have played such a pivotal role in international commerce.’

In a recent interview with business news site Világgazdaság, Hungarian Tourism Agency CEO Péter Horváth highlighted that the number of guest nights booked by foreign visitors to Hungary is on the rise, while domestic tourism has shrunk, which is in line with international trends in the industry. On the whole, however, the total number of nights booked has increased by four per cent in the first five months compared to last year.