Hungarian Conservative

Azerbaijan has the potential to become one of the major natural gas suppliers to Hungary if the current determination to increase import volumes continues. However, the bilateral relations between the two countries extend beyond natural gas exports and are characterized by an enhanced strategic partnership. Given the commitment to construct an undersea high-voltage power line through the Black Sea, Azerbaijan could also become a key exporter of renewable energy to Hungary. On 1 May 2024 Azerbaijan, Kazakhstan, and Uzbekistan, ahead of the Tashkent International Investment Forum, reached an agreement to construct a similar high-voltage undersea power line through the Caspian Sea.

In Hungary, people traditionally think in terms of owning their own homes, which not only provides predictability but also financial security for the next generation.

The agency expects substantial foreign investments in battery production to further attract funding, leading to increased job creation, technological advancements, and enhanced exports. Scope Ratings emphasized that Hungary’s BBB credit ratings are reinforced by the robust structure of external and public liabilities.

According to the ten-page study by the international credit rating agency, the stable outlook is supported by the region’s expected robust macroeconomic performance. In addition, the economies of the countries in the region have been relatively resilient to the European energy supply crisis.

Unlike the existing conditions, CSOK Plus does not distinguish between new and used residential properties. New homes are generally more expensive, which means that the same amount of money will buy a smaller property. However, the good news for buyers is that 80 million forints might be sufficient for purchasing a multi-room new apartment or house. On the other hand, new constructions are often more energy-efficient and have more modern layouts compared to properties that are several decades old.

At the launch event, Finance Minister Mihály Varga highlighted that the combined market share of MBH and OTP, Hungary’s two largest banks, now far exceeds the share of foreign banks operating in the country.

This positive trajectory in Hungary’s financial landscape had an impact on the nation’s global ranking in terms of wealth. Hungary has advanced two positions, now sitting at 30th place among the world’s nations, demonstrating the country’s progress despite the challenging economic conditions.

The credit rating agency expects a three per cent economic growth in Hungary next year, supported by strong exports, a high investment rate, and rising real wages.

Katalin Novák emphasised that this is the first occasion for a Hungarian President to visit Rwanda, and it could therefore be a milestone in bilateral relations.