Subscribe to our social channels to get the latest news about Hungary!
Hungary Trends – The previous week in business and finance
Change language:
Budapest (MTI) – See below MTI’s main business and financial news from the previous week:
HUNGARY CPI PICKS UP TO 1.8 PC IN DECEMBER
Consumer prices in Hungary rose 1.8 percent year-on-year in December, accelerating from 1.1 percent in the previous month as vehicle fuel prices climbed, data released by the Central Statistical Office (KSH) showed. Average annual inflation was 0.4 percent.
HUNGARY TO BE FINED HUF 76.6 BN FOR METRO CONSTRUCTION FRAUD
The European Commission wants to make Hungary pay a 76.6 billion forint (EUR 249m) fine for violations uncovered by the European Union’s anti-fraud office OLAF, government office chief János Lázár said. The burden of the fine must be shifted to those responsible for the violations, which include fraud, malfeasance in office and cartel activity, said Lázár.
BRUSSELS SHOULDN’T BUTT IN ON NATL ECONOMIC POLICY, SAYS ORBÁN
Prime Minister Viktor Orbán said he sees Brussels’ increasing tendency to interfere with matters of national economic policy as a potential area of conflict. “I will take the position in this debate…that Brussels shouldn’t have a say in matters of economic policy, such as taxes, prices or wages,” he said in an interview on public radio. “There are matters for which there is a common European policy, but Brussels shouldn’t have a say in everything, especially in those areas in which we see things differently than they do,” he added.
CHINA-CEE FUND TO ACQUIRE INVITEL GROUP FOR HUF 63 BN
The China-CEE Fund agreed to acquire Hungarian telco Invitel for 63 billion forints from Magyar Telecom, a unit of Mid Europa Partners, Invitel said. The transaction could be closed in Q1 2017, pending approval by the Competition Office.
HUNGERIT PLANS HUF 5.1 BN CAPACITY EXPANSION
Poultry processor Hungerit plans a 1.5 billion forint (EUR 4.9m) expansion at its base in Szentes (SE Hungary) that will boost capacity and create 120 jobs. The company was awarded a 1.8 billion forint state grant for the project.