Hungarian Conservative

The recent signing of a military and defence industry cooperation agreement between Hungary and the United Arab Emirates introduces a new dimension to their bilateral relations. Hungary’s status as a NATO member, combined with the UAE’s robust partnership with the alliance, suggests that this agreement may lead to a more pronounced role for Hungary in security collaborations between NATO and the Gulf region.

The Ukrainian government is working on blacklisting 14 products by the Hungarian pharmaceutical company Richter. Foreign Minister Péter Szijjártó believes that this has no professional basis, only political, and spoke up against the planned bannings at the EU foreign ministers’ meeting in Luxembourg.

Former President Trump’s criminal trial has begun in Manhattan, which some polling data suggests could cost him his victory in the presidential election in November. However, President Biden is not in a great position either as the economy and the state of foreign affairs have recently worsened, and he was already struggling with a low approval rating on these issues. How will all this end?

The financial software developer Taxually, the manufacturing company Continest, and the logistics and transportation company United Shipping Hungaria have even made the top 100 on the Financial Times’ list. Minister of National Economy Márton Nagy hosted the top executives of the thirteen Hungarian companies included on the list for a congratulatory meeting.

Conservative investor Nelson Peltz was trying to get new members elected to the board of directors at the 3 April shareholders meeting and thus steer the company away from their woke agenda, to no avail. The same woke board members retained their positions, to which the market, expecting a change, did not react well.

‘Green energy production, storage, utilization, and recycling: this is how the green economy is built, of which Hungary is a leader in the world, not a follower’, Government Commissioner László György stated in Debrecen, encouraging citizens to fill in the green energy consultation questionnaire.

According to the joint statement of the two companies released on Tuesday, Hungarian Cerbona has acquired the trademarks of Boci, Melba, and Párizsi kocka. The transaction will be finalized on 22 May 2024; until then, Nestlé will continue to manufacture the products to ensure the continuity of supply.

Minister for National Economy Márton Nagy presented the new competitiveness strategy for 2024⁠–⁠2030 adopted by the government at a press conference held in Budapest on Monday. According to him, economic growth between 2 to ⁠3 per cent is expected this year.

Under the new scheme, the state will cover 50 per cent of the employee’s salary for four or six months. If the workplace is more than 60 kilometres away from the place of residence, rental support up to 70 per cent of the minimum wage, or 180,000 forints, can be requested under the programme. Within a sixty-kilometre radius, travel expenses of 10,000 forints per 10 kilometres will be provided.

Following talks with his Thai counterpart, Minister of Foreign Affairs and Trade Péter Szijjártó revealed that tourist traffic between the two countries has doubled, with more than 10,000 Thai tourists visiting Hungary last year, while more than 30,000 Hungarians travelled to Thailand.

During the Hungarian presidency, the debate must continue on whether it is preserving or eliminating connectivity that makes the EU stronger and more competitive, János Bóka emphasized in his lecture at the event marking the fifth anniversary of the establishment of the Hungarian Youth Association.

Citizen can submit their responses to questions related to 13 important issues ranging from solar panels to reducing utility bills to electromobility.

János Áder, Chairman of the Blue Planet Climate Protection Foundation and his guest discussed the possibilities and challenges of transitioning to a circular economy for the sake of sustainability.

In 2022, the long upward trend in online shopping came to a halt, and it further deteriorated last year. The number of buyers decreased the most markedly in the 16–35 age group.

One of the EU’s appeals is its ability to integrate economic regions in its immediate neighbourhood, where it can reap mutual benefits. This is also true for the candidate countries of the Western Balkans, whose future membership has geopolitical and security policy benefits in addition to economic advantages.

Áder pointed out that Hungary’s gas consumption decreased by one billion cubic metres, or ten percent, in the past year, and the share of fossil energy in the ‘energy mix’ decreased by one thousand one hundred megawatts.

The Prime Minister’s political director Balázs Orbán held a book launch at the Ludovika University of Public Service in Budapest. The new book, now also available in English, looks at the changing geopolitical world order as well as Hungary’s role and place in it.

According to recently released data, the Hungarian economy has surpassed the EU average in 2023, and is poised to be among the leading countries in 2024 as well.

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.

Áder noted that in Europe alone, 10 to 12 million cars are produced annually, and from 2035 onwards, only electric cars will roll off the assembly lines. This means that in Europe, 10 to 12 million batteries will be needed annually for car production.

Orbán told public radio that Hungary only consented to financial contributions allocated towards efforts to prevent the collapse of the Ukrainian state at the Thursday Council meeting. He said peace was the crucial issue as regards the war between Russia and Ukraine but ‘the situation is not good in this respect, since Brussels is suffering from war fever’.

The Hungarian Post issued its eleventh stamp series featuring motifs from the Chinese horoscope, celebrating the upcoming Year of the Dragon, which commences on 10 February.

The Fed is not cutting the federal interest rate, and is keeping it at 5.5 per cent, the highest it has been since the early 2000s. Meanwhile in Hungary, the National Bank cut interest rates on 31 January.

The Prime Minister expressed concern about the lack of proper respect for agriculture as a crucial element of the European economy within the European Union. He criticized unfavourable regulations imposed in several countries, making the situation difficult for farmers.

The columnist argues that, despite the best efforts of the liberal elite in the media to convince them otherwise, Americans widely disapprove of President Biden’s economic and immigration policies, which he is confident will be enough to propel President Trump to victory in the autumn.

The analyst emphasized that a severe economic crisis has unfolded in Germany, partly due to the misguided sanction policy and the energy crisis resulting from the shutdown of nuclear power plants.

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.

The minister stressed the importance of maintaining disciplined fiscal policies this year, aiming for an annual average inflation rate of around 5 per cent. He firmly asserted that until the inflation rate returns to a more moderate range, fiscal spending should be limited.

In a joint press statement with the Moldovan Prime Minister, Orbán described the eight years since Moldova signed the Association Agreement with the European Union as ‘offensively long’ and expressed hope that some of the lost time may be regained by speeding up accession negotiations.

Nearly 16 million tourists spent over 41 million guest nights in Hungary last year, with the revenues of the hospitality sector seeing a double-digit growth, surpassing inflation.