Hungary News
News
Hungary Assumes EU Presidency Amid Controversy
Hungary took over the rotating EU Council presidency on July 1, sparking protests in Brussels over concerns about democratic backsliding. PM Viktor Orbán pledged to focus on "energy security and competitiveness."
Danube River Hits Record Low, Disrupting Trade
Water levels dropped to 1.5 meters in Budapest, the lowest since 1947, forcing cargo ships to reduce loads by 40%. The government declared a state of emergency for river transport.
Business News
Suzuki Expands Electric Vehicle Production in Esztergom
The Japanese automaker invested €1 billion to launch Hungary’s first fully EV-dedicated factory, creating 2,000 jobs. Production of the "Magyar" SUV begins in Q4 2025.
Chinese Battery Giant CATL Opens R&D Center in Debrecen
The €500 million facility will employ 500 engineers, cementing Hungary as Europe’s #2 battery producer after Germany.
Economic News
Forint Stabilizes After EU Funds Unfreeze
The HUF strengthened to 370/EUR after Brussels released €4.6 billion in frozen cohesion funds. Inflation slowed to 5.8%, but food prices remain 22% higher than pre-pandemic levels.
GDP Growth Stalls at 0.7%
Germany’s recession and weak EU demand hit Hungarian automotive and electronics exports, the backbone of the economy.
Political News
Orbán Faces Rebellion Over "Sovereignty Protection Act"
Fidesz MPs clashed over a new law granting the government power to investigate "foreign-funded" NGOs and media, with critics calling it a "Putin-style" crackdown.
Hungary Blocks EU Ukraine Aid Package Again
Budapest vetoed €50 billion in military support, demanding concessions on Ukrainian grain imports.
Election News
Opposition Primaries Begin for 2026 Parliamentary Elections
The United for Hungary coalition will select its PM candidate among:
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Péter Márki-Zay (Conservative)
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Klára Dobrev (Pro-EU Progressive)
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Gergely Karácsony (Green-Liberal)
Fidesz Leads Polls Despite Scandals
Latest surveys give the ruling party 42% support, vs. 28% for the united opposition.
Employment News
Labor Shortage Worsens – 150,000 Vacant Jobs
Despite 4.1% unemployment, manufacturers struggle to find welders, truck drivers, and IT specialists. Wages rose 14% year-on-year.
New "Guest Worker" Deal with Uzbekistan
Hungary will issue 10,000 work permits to Uzbek migrants for construction and agriculture, sparking far-right protests.
Business News
OTP Bank Shares Jump 8% on Balkan Expansion
Hungary’s largest lender acquired Serbia’s AIK Banka, pushing the BUX Index to a 3-month high.
Richter Gedeon Wins €2B U.S. Pharma Contract
The Hungarian drugmaker’s stock (ETR:RIG) surged 12% after securing a deal to supply generic Ozempic.
Forecast
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Budapest: Scattered storms, 26°C (79°F)
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Debrecen: Sunny, 29°C (84°F)
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Lake Balaton: Breezy, 24°C (75°F)
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Pécs: Muggy, 28°C (82°F)
Entertainment News
Eurovision Winner Freddie Returns for Sziget Festival
The 2016 star will Europe’s largest music festival on August 10, performing with the Budapest Philharmonic.
Netflix’s "The Witcher: Toussaint" Films in Eger
The spin-off series transformed the Baroque city into a fantasy wine region, hiring **1,2
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