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14th May, 2026
Magyar bans severance pay for Fidesz cabinet ministers
Members of the outgoing government will not receive their severance pay of tens of millions of forints, Prime Minister Peter Magyar announced on Wednesday evening after his cabinet’s inaugural meeting.
He told a press conference that “those who ruined the country should not, under any circumstances, dare to collect their tens of millions in severance pay; they will not receive it”.
He also announced that the new Ministry of Social and Family Affairs will move into the Cabinet Office formerly occupied by Antal Rogan. Magyar visited the vacant office on Tuesday to expose the extravagance and expense of the refurbished office.
Responding to the news of Wednesday’s drone attacks on western Ukraine, he affirmed that Foreign Minister Anita Orban had summoned the Russian ambassador.
The prime minister repeated his commitment to deposing President Tamas Sulyok via an amendment to the Fundamental Law if Sulyok does not leave voluntarily.
Magyar also confirmed that the government is negotiating Hungary’s accession to the European Public Prosecutor’s Office, and is also reviewing and halting the process of withdrawing from the International Criminal Court.
In a new announcement, he said the government will decide whether to publish the minutes of cabinet meetings from 2010-26.
A draft wealth tax affecting wealth of more than Ft 1 billion is being prepared.
On another matter, he said MOL chief Zsolt Hernadi had informed the government that the supply of fuel and crude oil is uninterrupted, and there are strategic fuel reserves sufficient for 80 days.
Magyar also announced that Peter Toth, his former campaign manager, will be the government’s chief national security advisor. His duties will include co-ordinating the work of the secret services and promoting efficient co-operation between national security agencies. (24.hu; hvg.hu; telex.hu)
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14th May, 2026
Gajdos declares moratorium on logging in protected forests
Minister for the Living Environment Laszlo Gajdos announced an immediate moratorium on logging in protected forests on Wednesday.
“We can no longer allow clear-cutting. Our forests are not merely timber resources, but part of our future and the integrity of the country,” he said.
One day after the formation of the new cabinet, the minister also outlined plans to overhaul the management of state forestry assets.
According to Gajdos, ecological considerations will replace profit maximisation as the primary guiding principle of forestry policy.
The government also intends to introduce stricter penalties for environmental violations. (24.hu; nepszava.hu; telex.hu; blikk.hu; 444.hu; magyarhirlap.hu)
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14th May, 2026
Head of Parliament Office leaves
The commission of Gyorgy Such, head of the office of Parliament, ceased by mutual agreement on May 12, it was announced on Wednesday.
The new Speaker, Agnes Forsthoffer of the Tisza Party, “wants to implement a new management approach and new professional ideas that meet the expectations of society, and which adapt to the constantly changing challenges of the modern era and the trust placed in the change of regime,” while “respecting the good practices that have developed so far”, according to the official statement.
Such has run the Office of Parliament since 2013. Forsthoffer thanked him for his work and his service in forming the new Parliament.
An open tender will be launched for filling the position. (nepszava.hu; atv.hu; hvg.hu; 444.hu; infostart.hu; 24.hu)
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14th May, 2026
Tax Office chief term ends
Ferenc Vagujhelyi is no longer the president of the National Tax and Customs Office (NAV) it was confirmed to Telex on Wednesday.
The NAV said simply that legal regulations explain the change. According to the regulations in force from 2016, the head of the tax office performs his duty as a state secretary and the commission of state secretaries automatically cease with the change of government.
Vagujhelyi became NAV president in 2021 when Laszlo Sors was unexpectedly dismissed from the post. At the time, HVG observed that Vagujhelyi was strongly attached to Viktor Orban and his family.
Prior to that, he was an IT vice-president of the tax office when NAV’s software procurements caused an international scandal. (hvg.hu; economx.hu; 444.hu; 24.hu; mfor.hu; telex.hu; portfolio.hu)
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14th May, 2026
Former Fidesz MP accused of corruption
The Fidesz caucus issued a statement on Wednesday in reaction to the detention of the party’s former MP Zoltan Bona on Monday, writing that everybody must assume responsibility for their actions.
Prosecutors raided his home and impounded various items after which he was questioned as a suspect and his detention was ordered.
Bona is accused of misusing his right to employ one staff member at Parliament’s expense by hiring a relative of the mayor of the village of Halasztelek. According to the allegation, this person did no substantial work and the mayor and the MP divided her salary between themselves.
The suspect had been an MP since 2014, but lost his seat in last month’s elections.
The Fidesz caucus added that everybody is entitled to the presumption of innocence regardless of party affiliation.
Bona will receive a tracker and may not leave his home for four months, Telex reports. (atv.hu; hvg.hu; telex.hu)
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14th May, 2026
Cabinet to meet in Alkotmany utca offices
The new prime minister’s office and the location of cabinet meetings will be at Alkotmany utca 5, near Kossuth ter, Peter Magyar announced on his Facebook page on Wednesday morning.
This building was the Construction and Transport Ministry until now.
The building is just a few steps from Parliament and it is symbolic that the prime minister’s office’s new address will be Alkotmany (“Constitution”) utca, he wrote in his post. (nepszava.hu)
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14th May, 2026
Magyar will not move into official residence
Prime Minister Peter Magyar will continue to reside at his present home rather than move into a government residence, he announced on Facebook on Wednesday.
He added that he will remain at the Buda house where his children are at home.
He wrote that he will use the blue Skoda Superb known from his tour of the country as the prime ministerial service car. (hvg.hu)
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14th May, 2026
EC could unlock euro 34bn for Hungary
The European Commission could unlock euro 34 billion for Hungary in the coming weeks as positive decisions affecting Hungary will follow one after another, HVG reports.
The Commission believes that the new Hungarian government has made substantial progress in honouring the conditions of the rule of law and transparency and so the country’s chances of accessing the frozen funds have considerably improved.
The pandemic recovery funds are at the centre of negotiations, as the accessible funds and loans still exceed euro 17 billion.
In addition, the Commission is expected to positively evaluate the Hungarian plans submitted to the SAFE joint defence programme which could mean a further euro 16-17 billion.
Prime Minister Peter Magyar and Commission President Ursula von der Leyen could sign a political agreement in Brussels on May 25 as part of the process and the Hungarian government will submit a modified recovery plan two days later.
Some EU funds lost earlier, however, cannot be regained, as euro 3 billion was definitively lost due to the Orban government’s inaction on rule of law concerns.
The aim of the extremely complex process currently underway is to ensure that Hungary receives the recovery funds – and on time – by ensuring the transparent spending of EU funds, HVG writes. If these conditions are met, other frozen funds will also be released.
“We are making very good progress, and there is a serious chance of drawing down 100% of the recovery funds, according to a source in the Commission.
Brussels sources say it enhances the negotiating position of the new cabinet that it adopts a more co-operative position on several EU issues earlier blocked. (hvg.hu; klubradio.hu)
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14th May, 2026
Construction output 2% higher
Construction industry output rose by 2% year-on-year in March, according to workday-adjusted figures released by the Central Statistics Office on Wednesday, while unadjusted data show 3.9% growth.
Construction of buildings was 5.4% higher than one year earlier, but the construction of other objects fell by 8.3%.
Construction output rose by 0.5% from the previous month, according to adjusted figures.
The volume of new contracts decreased by 2.9%. Within this, new contracts for edifice construction fell by 19.2% but new contracts for construction of other objects were 26.2% higher than one year earlier.
The volume of all contracts was 4.8% higher at the end of March than a year earlier. Total building construction contracts dropped by 4.6% but the total of contracts for other projects went up by 9.2%.
However, first-quarter output of the construction sector shrank by 4.2% year-on-year. (ksh.hu; portfolio.hu; novekedes.hu; 444.hu; telex.hu; magyarnemzet.hu)
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14th May, 2026
4% industrial expansion confirmed
Final workday-adjusted figures confirm 3.7% year-on-year growth in industrial production in March, the Central Statistics Office announced on Wednesday.
Unadjusted data show output 6.7% higher than one year earlier.
On a monthly basis, output rose by 3.1% from February to March, according to both seasonally and workday-adjusted data.
Production for both export and domestic sales rose by 3.2% year-on-year in volume terms.
Manufacturing output, accounting for 95% of the total, increased by 7%, while mining output went up by 7.5% and energy industry output increased by 2.3%.
Vehicle production rose by 3.7%, as car production shot up by 5.6% and car parts production slightly increased by 0.4%.
For the first quarter, exports, accounting for 64% of industrial production, saw 1.5% growth while domestic sales were down by 2.5%.
Website 444 adds that EV battery production is expanding rapidly, as output in March was 34% higher than one year earlier. (ksh.hu; 444.hu; mfor.hu; portfolio.hu; telex.hu)
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14th May, 2026
New car market reaches 9.7% growth
A total of 11,832 new passenger cars were sold in April, a 9.7% increase from the same month of 2025, according to the Car Importers Association (MGE).
After adjustments, net market growth reached 11.4%.
In the first four months, a total of 48,291 new passenger cars were sold.
Sales of fully electric vehicles reached 1,420 last month, more than double the level recorded a year earlier, and were 48.4% higher, year on year in the first four months at 4,618.
The growth was supported by state subsidies, corporate fleet purchases and a broader range of available models.
The stronger forint of recent weeks may also be a factor, the MGE remarks.
The light commercial vehicle segment declined moderately, with 7,285 new registrations in the first four months of the year.
By contrast, the heavy commercial vehicle market expanded by 6.2%, supported by fleet renewal programmes, European logistics and infrastructure investments, and a gradual recovery in freight demand. (portfolio.hu)
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14th May, 2026
MTelekom raises outlook after strong Q1 profit
Magyar Telekom reported first-quarter after-tax profit of Ft 59 billion yesterday, an increase of 8.9% from one year earlier.
Adjusted net profit expanded by 7.5% to Ft 58.7 billion.
Group revenue for the January-March period fell by 1.5% year-on-year to Ft 238 billion. The decline was mainly driven by weaker performance in the system integration and IT business, while mobile device export activity also continued to decline.
Mobile revenue was broadly unchanged at Ft 140.5 billion during the quarter.
Fixed-line revenue also remained largely stable, at Ft 78.3 billion.
The number of fibre-based broadband subscribers increased by 10.6% to 1.1 million, while IPTV subscriptions rose by 2.4% to 1.4 million.
Revenue from system integration and IT services fell by 16% to Ft 19.3 billion.
Tibor Rekasi, the company’s chief executive, said the strong start to the year has prompted Magyar Telekom to raise its 2026 guidance. The company now expects mid-single-digit growth in ebitda and around 10% growth in adjusted net profit.
Magyar Telekom announced that it will begin share buyback transactions on the BSE from May 14, until June 26 at the latest, under a programme authorised by shareholders with a maximum value of Ft 50 billion. (portfolio.hu; economx.hu)
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14th May, 2026
MTelekom and One resume inflation-indexed pricing
One Hungary will reintroduce inflation-linked fee adjustments from September 1, applying a 4.4% increase to certain customer fees, the company told Portfolio on Wednesday.
The adjustment will affect residential mobile subscriptions, fleet packages, and small-business mobile and fixed-line monthly fee services launched before November 14, 2025.
Magyar Telekom also said it would introduce a 4.4% fee increase, but from July 1, matching the average annual inflation rate for 2025.
Contracts for packages concluded before March 12 will not be affected.
Magyar Telekom incorporated inflation-linked pricing clauses into its customer contracts in September 2022.
Under this mechanism, the company raised fees by 14.5% in 2023 and by 15% in 2024, the latter below the previous year’s inflation rate of 17.6%.
A further 3.7% increase tied to 2024 inflation had been scheduled for April 2025, but Magyar Telekom, along with rival telecom operators, suspended the increase following pressure from the government under a temporary “voluntary fee limitation” arrangement. (portfolio.hu; portfolio.hu; privatbankar.hu)
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14th May, 2026
Gyor ready to sell airport operator
The city of Gyor has begun discussions with potential partners to improve the Gyor-Per Airport’s long-term sustainability or possibly sell the operating company, local news outlet Kisalfold reports.
The value of the operator is estimated at over euro 10 million.
While the airport itself remains state-owned, the operating company is jointly owned by the city, the Szechenyi Istvan University and Audi Hungaria, which operates a large factory in Gyor.
The airport, which opened 23 years ago, recorded its strongest year in 2012, when passenger traffic reached roughly 33,000.
Traffic has since declined to levels near 25% of that peak. (kisalfold.hu; portfolio.hu; blikk.hu)
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14th May, 2026
MNB may reduce stake in BSE
Intensive negotiations are under way on reducing the MNB’s stake in the Budapest Stock Exchange, the bourse’s CEO Tibor Toth said during a podcast hosted by 24.
As the MNB currently owns 82% of BSE shares, it could reduce its stake while still retaining majority control above 50%.
Toth said the new approach followed the recent change in the MNB’s leadership.
He added that the BSE has suggested discussions with the new government.
Proposed initiatives include the stock market listing of state-owned companies, the abolition of the transaction tax on Hungarian securities to encourage retail investment, and reforms to the voluntary and private pension fund system. (24.hu; hvg.hu; portfolio.hu; economx.hu)
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14th May, 2026
Ban on wild animals in circuses announced
The Hungarian National Circus supports Environment Minister Laszlo Gajdos’s announcement that forcing wild animals to perform at circuses will be banned, said circus manager Jozsef Richter Jr.
The decision is consistent with international animal protection guidelines and indicates a responsible forward-looking mentality, he said.
Gajdos announced at his hearing before a parliamentary committee earlier this week that the performances of elephants, seals, walruses, big cats and primates in circuses will be banned in Hungary.
The minister said the ban will enter into force only after the circus season ends, as the government would not like to put any circus in a disagreeable position.
To the best of his knowledge, Gajdos said, only one elephant is made to perform in only one Hungarian circus. (hvg.hu)
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14th May, 2026
Wizz Air revives Tel Aviv link
Wizz Air will resume its Budapest-Tel Aviv service from May 28, following a three-month suspension, citing an improvement in the security environment.
The carrier will operate daily flights between Budapest Ferenc Liszt International Airport and Ben Gurion Airport, with departures from Budapest at 5 a.m.
Wizz Air said the decision was based on updated guidance from the EU Aviation Safety Agency and taken after consultations with international and local authorities. (index.hu; portfolio.hu; mfor.hu)
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