Hungarian Conservative

Hungarian-Chinese relations are largely about a medium-sized nation’s struggle to diversify and reduce the risk of having all of its eggs in the German manufacturers’ basket.

The most important feature of the programme announced with a five billion forint budget is that state support will reach innovative startups through incubators. Incubators support early-stage startups in bringing their products based on new technologies to the market and in acquiring the necessary additional financing.

As a result of a series of government initiatives, both households and institutional players have significantly increased their holdings of government bonds. In an unprecedented manner, households now hold a larger amount of government bonds than bank deposits.

Nestlé Hungária Kft.’s recent capacity expansion investment in Bük is set to create 280 new job opportunities, marking yet another milestone in Hungary’s impressive year of record-breaking investments, exports, and employment, Minister of Foreign Affairs and Trade Péter Szijjártó made the announcement at the project’s inauguration ceremony.

In his meeting with the President of the European Council, Orbán reiterated Hungary’s position on issues such as EU funds for Hungary, the increasingly serious migration crisis at the continent’s borders, Europe’s economic and competitiveness decline, and the EU budget.

In his remarks at the inauguration of a new granulation plant established by Swiss Omya in Eger, Minister of Foreign Affairs and Trade Péter Szijjártó highlighted that this year a record €6.5 billion worth of foreign investments have materialized in Hungary, demonstrating that international trust in the Hungarian economy remains unbroken.

The director of the National Bank of Hungary (MNB) András Balatoni explained that the strict monetary policy, decreasing global commodity prices compared to last year, restrained consumption, and market-boosting measures by the government are increasingly exerting a disinflationary effect.

Viktor Orbán discussed the recently announced pension raise on public radio today. As for the broader topic of inflation, he expressed his conviction that his government will curb it by the end of the year, down to single digits, opining that it could be as low as 4–6 per cent next year.

Csaba Lantos stated that to aid families, the government continues to provide reduced utility prices, making Hungary home to the cheapest household natural gas and electricity prices in Europe.

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.

Mihály Varga pointed out during the introductory economic policy roundtable discussion that the government has taken measures to reduce inflation risks, which have yielded results. This is confirmed by the analyses of major credit rating agencies, which are ‘filled with positive findings,’ he said.

During the inauguration of the British-owned GKN Automotive Hungary Ltd. factory, the minister highlighted that the company, specializing in manufacturing automotive components, will serve BMW, Mercedes-Benz, Suzuki, and Volkswagen through the newly built facility within the framework of the approximately 52-billion-forint greenfield investment.

Szijjártó urged the start of genuine European Union accession negotiations for Albania and North Macedonia. He emphasized that Europe is facing extraordinary economic and security challenges, making the stability and peace of the Western Balkans more crucial than ever.

Szijjártó emphasized that Hungary wants a strong EU, but this is only possible if member states are strong enough. However, for this to happen, nations need to stick to their traditions, their history, and have the freedom to live their religion.

The robust recovery of inbound tourism greatly contributed to the positive tourism results in July. Compared to the same month last year, nearly a fifth more foreign guests, totalling 900,000, overnighted in Hungary.

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.

As Japan’s example continues to illustrate, hope and one’s true objective must never be forgotten, let alone given up. For Hungary, as for Japan, national interests and the progress of the nation constitute both the foremost goal and the means to achieve it.

During the event, Marek Kuchciński and International Director at the University of Public Service (NKE) Ákos Mernyei planted two oak trees in the park of the Renaissance castle of Krasiczyn. One tree symbolizes the friendship of the nations in the region, while the other represents the Polish–Hungarian summer university organised in Krasiczyn since 2018.

‘And here we come. Our time has come because by becoming the meeting point of Eastern and Western investments, we provide a life insurance for Hungary, we provide a guarantee that in the coming years, Hungary will be the winner of the big global economic transformation that the automotive revolution dictates,’ Péter Szijjártó said.

‘Big companies are coming to Hungary with R&D budgets that are significant in themselves. Rheinmetall, for one, is the twenty-fourth largest company in the world’, Hungarian Ministerial Commissioner Imre Porkoláb underlined in a recent interview.

The Ministry of Economic Development said in a statement that the increased demand for government bonds has both directly and indirectly improved the government’s self-financing capability, reduced government interest expenditures, and managed to preserve the real value of citizens’ savings. Additionally, government measures have contributed to the fact that individuals are making more conscious decisions about their savings, turning towards higher-yielding assets in a high yield environment.

The Budapest embassy stated that the United States government made significant efforts over the years to avoid this modification and resolve the longstanding security risk resulting from the Hungarian simplified naturalisation process. However, the Hungarian government decided not to address the concerns raised and did not take the necessary steps to fully comply with the VWP requirements.

The minister advocated for strengthening ties between the European Union and Central Asia, urging the prompt signing of the EU-Kyrgyzstan Enhanced Partnership and Cooperation Agreement, which was initialled in 2019.

After Viktor Orbán delivered his address at Tusványos, opposition parties did not hesitate to slam the PM and the speech.

A brief summary of the most important remarks made by government officials on the second day of the 32nd Tusványos Summer Festival in Transylvania.

The minister recalled that the Factory Rescue Programme was launched by the government following the outbreak of the conflict in Ukraine, to enable domestic companies to strengthen their independence from the highly unpredictable fluctuations of international energy markets and to preserve jobs and maintain economic performance.

Mihály Varga recalled that during the pandemic, it became evident that Hungary needed to increase its self-sufficiency in the health industry. Therefore, in 2020, the government launched the Healthcare Industry Support Programme, which, among others, has now facilitated Medicor’s investment.

Enumerating the factors strengthening the positive outlook for the economy, the Hungarian finance minister stated that the country’s export performance is very good, and in terms of population, Hungary ranks 94th among the countries of the world, while it stands at 34th place in terms of export indicators.

The facility aims to produce 700–800 million aluminium beverage cans annually, with approximately half of them filled, mainly to meet the demands of local and regional third-party brands. Additionally, the company plans to serve its own local and regional markets from this plant.

AI-based developments are a focal area of the Hungarian branch of the Bosch Group. The company employs this technology in various areas at its Hungarian sites, playing a significant role in manufacturing processes, whether it is data analysis for production optimisation, optical inspection of certain processes, or planning maintenance for production line equipment.