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27th November, 2025
Court finds report on Tisza tax policy was fabricated
A court ruled that Magyar Nemzet, Index and right-wing tabloid Ripost lied in the summer when they wrote that an alleged Tisza party document advocating higher taxes was genuine, party leader Peter Magyar wrote on his Facebook page yesterday.
The fabricated story was published by Index and disseminated by the entire government propaganda, he wrote.
According to Magyar, Ripost and Magyar Nemzet should publish the following correction: “We falsely reported that the document titled â€Memorandum for the Leadership of the Tisza Party’, dated July 17, 2025, is an internal memo prepared by the Tisza Party’s economic cabinet, intended for the party leadership”.
Pro-government websites have referred to this memo on several occasions, trying to prove that Tisza would be prepared to raise taxes if it came to power.
Magyar added: “The lying propaganda magazine Index and the other propaganda media products continue to lie this summer, yesterday and today. The propaganda media will lose all the lawsuits now too.” (hvg.hu)
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27th November, 2025
Fidesz narrows gap in new poll
The Tisza Party continues to have the most list votes at a parliamentary election but its lead among decided voters has shrunk from 51-38 in September to 50-40 in November, according to a national representative survey conducted by Median.
Among all eligible voters, Tisza has a lead of 38-33%.
Median found that the mood in the country is improving, as in September 60% of respondents wanted a change of government, whereas this figure is now at 52%.
A minority of 34% of respondents believe that things are going in the right direction in Hungary, while 60% feel the opposite, compared to 28% and 67% in September.
Fidesz has clearly improved its position, as shown by the improvement in the general mood, political scientist Gabor Torok remarked on Facebook on Wednesday.
He added that there are hardly any more voters beside those opting for the two large parties. Only Our Homeland appears near the parliamentary threshold of 5%, while the Democratic Coalition is down to 2%.
A random poll conducted by the Minerva Institute found that support for the Tisza Party has fallen from 52% to 48% among decided party voters while that for Fidesz rose from 38% to 43%. (index.hu; hvg.hu; telex.hu; 24.hu; 444.hu; mandiner.hu)
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27th November, 2025
City council rejects Tutto
Budapest city council voted down the nomination of Kata Tutto as a deputy to mayor Gergely Karacsony on Wednesday.
Only 20 of the 33 councillors took part in the secret ballot. Of the 19 valid votes, 8 supported Tutto and 11 opposed her.
Government commissioner for the city Botond Sara, has warned that the city is operating illegally, since a deputy mayor has not been elected from among the members of the city council for more than a year since the municipal elections of 2024.
At that time, the left-liberal parties that supported the mayor, were forced into a minority in the council, and the Tisza Party, whose support (or that of Fidesz) is essential for a majority in the council, abstained from the re-election of the former deputies. (24.hu; nepszava.hu; 444.hu; hang.hu; hirtv.hu; portfolio.hu)
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27th November, 2025
MOL sends crude oil to aid Serbian refinery hit by US sanctions
Hungary will resort to every instrument available to maintain the supply of crude oil to Serbian refineries, Foreign Affairs and Trade Minister Peter Szijjarto told a press conference he held with Serb Mining and Energy Affairs Minister Dubravka Dedovic on Wednesday.
Serbia finds itself in a difficult position because of the US sanctions imposed on Russian oil companies.
Supplying the refinery at Pancha from Croatia has become impossible because of the sanctions and production of the refinery itself had to be stopped.
Sanctions were imposed on Serbia’s state-run oil company NIS because Russian company Gazprom is the owner of an 11.3% stake.
Szijjarto said MOL is ready to further increase deliveries of crude oil and crude oil products to Serbia. He stressed that the Hungarian oil company has doubled its exports to Serbia in November, and in December it will increase it 2.5 times.
Shipments will arrive in Serbia on road, by rail and river, he added.
He said the Hungarian government is ready to speed up the construction of the Serb-Hungarian oil pipeline. According to the present state, it could be completed by 2027 at the earliest, Portfolio observes.
The Serbian refinery’s operations would not be in doubt if NIS were not in majority Russian ownership.
The Gazprom group has announced that it is holding talks with a third party on selling its share of NIS. (hvg.hu)
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27th November, 2025
Employers, unions close to deal on next year minimum wages
Employer and employee organizations are reportedly close to reaching an agreement on next year’s minimum wage.
Sources indicate that most unions would accept an 11% increase in the minimum monthly wage to Ft 323,000 and a 7% rise in the guaranteed minimum wage to Ft 373,000, Portfolio writes.
The National Association of Employers and Industrialists would favour a smaller increase, but the Hungarian Trade Union Confederation seeks a higher guaranteed minimum.
The proposed wage increases would be two percentage points lower than what had been agreed in the three-year wage pact signed last year, as economic data missed government projections, a pre-condition for the renegotiation of the deal.
Participants are forbidden to disclose further information on the wage talks before the official announcement, which is expected next week. (portfolio.hu; mfor.hu; 24.hu; forbes.hu; economx.hu; mandiner.hu)
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27th November, 2025
Erste Bank projects weak growth
Economic growth is set to accelerate from 0.2% to 2% next year, while inflation may slow to 3.8% from 4.5%, according to the latest forecast of Erste Bank.
At a press briefing, analyst Janos Nagy said the German economy has been stagnating for three years, and supply constraints, including the chip shortage, could also impact production at the new BMW plant.
Stable employment and strong wage growth are supporting domestic consumption, despite earlier signs of a slowdown in spring, he added.
As for inflation, analysts forecast the headline figure to dip below 3% in January and February, supported by base effects, the strong forint, government measures, and lower growth in factory gate prices.
However, the inflation expectations of households remain elevated, and the service price inflation is also above the headline data.
Regarding monetary policy, Orsolya Nyeste said the high base rate and the interest rate gap are keeping the forint strong and the currency could remain strong throughout next year.
Erste projects a EUR/HUF rate of around 385 at the end of 2026, supported by a stable current account surplus. (portfolio.hu; penzcentrum.hu)
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27th November, 2025
Nearly 3 million live in housing poverty
More than 30% of the population, nearly 2.9 million people, live in housing poverty in Hungary, according to the housing report published for the 14th time by Habitat for Humanity Magyarorszag.
The organisation examined the impact of housing policy measures in 2024 and 2025 and changes in the affordability of housing.
The researchers say that 15-20% of poor children living in the lower 20% of the income scale live in homes where there are no bathrooms, water flush WCs, or hot water, while one-third of homes are houses with mud walls, and 26% of those aged zero to 17 live in overcrowded properties.
They also found that, although the comfort level of the flats has increased since the 1990 change of regime, hundreds of families live in poor quality overcrowded properties, without public water and the homes of more than a million households have not been modernised – for instance, there is no central heating in their properties.
Last year 1,488 people lost their home due to unpaid utility bills, 985 flats were auctioned off, and families were evicted from 503 local council-run or private flats. (nepszava.hu; hang.hu; 444.hu; telex.hu; 24.hu)
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27th November, 2025
Court orders AKK to release details of 1bn euro Chinese loan contract
State debt manager AKK must make public the terms of a three-year, euro 1 billion loan agreement signed with Chinese banks last year, a first-instance court has ruled in a lawsuit filed by the opposition Democratic Coalition party.
The AKK signed the loan contract with the China Development Bank, the Export-Import Bank of China, and the Bank of China’s Hungarian branch, for infrastructure and energy projects.
Portfolio reported in July 2024 that the AKK tapped the loan three months earlier.
Since then, the debt manager and the government have refused to disclose significant details, such as the interest rates and details on the repayment schedule.
Mihaly Varga, the Finance Minister at the time, said the variable-rate loan offered conditions better than prevailing market rates. The court ruling is not yet final. (portfolio.hu; nepszava.hu; telex.hu; klubradio.hu)
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27th November, 2025
Hungary included in EU funded Pan-European charging network
The consortium grouping E.ON Drive Infrastructure (EDRI) and its partners Voltix, and GreenWay received euro 70.3 million in EU funding to build cross-border charging infrastructure for electric trucks and heavy-duty vehicles by 2028.
The 330 charging points will be located at 55 strategic sites along major European transport routes in nine countries, including Hungary.
Each site is designed to feature a minimum of four charging points. All charging sites will offer 24-hour access and simple payment options.
EDRI already operates more than 8,300 public charging points in 11 European countries, including Hungary. A country-by-country breakdown of the new chargers has not been disclosed. (novekedes.hu; mti.hu)
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27th November, 2025
Vulcan Shield Global to start hiring
Singapore-based Vulcan Shield Global plans to set up its local unit by year’s end and start hiring staff in early 2026 for its new factory in Bekescsaba, based on an agreement signed with the local vocational training centre on Wednesday.
Vulcan Shield Global announced in September that it would build a plant in Hungary with a euro 700 million investment in three phases, creating 2,500 jobs.
The company will produce advanced ceramic and aluminium-fibre materials for the automotive, aerospace, electronics, and other high-tech sectors, said CEO David Kneale.
The government supported the project with a Ft 50 billion grant.
Kneale said that around 20 people will start stocking inventory from China at a rented hall next to the site of the future plant.
Production is expected to start with a small staff in the summer of 2026 after the arrival of machinery, with headcount to rise to 100-200 once the factory goes online.
Kneale said the company plans to build a long-term, locally rooted operation, relying on regional suppliers, subcontractors, and workforce.
The project has been designated a priority investment by the government, ensuring faster administrative processing and approvals. (vg.hu; telex.hu; hrportal.hu; novekedes.hu; ma.hu)
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27th November, 2025
Duna House to enter Spanish market
Duna House entered the Spanish market by acquiring a 22.08% stake in sector peer Don Piso Group through a capital raise, and its stake will increase to 34% at the beginning of 2026, the Budapest-listed property agency announced.
Its stake will rise to 67% within three years, and the company has options to acquire the remaining 33%.
The purchase price for the future transactions will be calculated based on Don Piso Group’s performance.
Duna House will roll out its loan brokerage brand Credipass, which is already active in Italy and Poland with a total of euro 2.7 billion in new loan disbursements in 2024.
Duna House will hold a 51% stake In the joint venture set up in Spain, with plans to increase it to 100% over time.
“The agreement brings us closer to the strategic goal of becoming Europe’s market leader in financial and real estate solutions”, Guy Dymschiz, CEO and co-founder of Duna House, said in the statement, Forbes writes.
The value of the Spanish mortgage market is estimated at euro 62 billion, with 500,000-700,000 property transactions annually.
The Barcelona-based company Don Piso, founded 40 years ago, has a nationwide presence, and operates 400 offices.
Duna House aims to triple its core ebitda by 2029 from euro 12 million to euro 33 million, while revenues are set to double from euro 100 million in 2024 to euro 198 million in four years. (portfolio.hu; forbes.hu; profitline.hu; privatbankar.hu)
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27th November, 2025
One Magyarorszag completes takeover of Direct One
Mobile operator One Magyarorszag (formerly Vodafone), a subsidiary of 4iG, will take over the Hungarian satellite subscribers and cable portfolio of Direct One, Portfolio reports.
The transaction follows a deal signed last summer, approved by the GVH later, involving the sale of Direct One by its Luxembourg-based owner Canal+ Luxembourg.
Satellite subscribers of Direct One will automatically be transferred to the One TV Medium package, which includes 99 channels, including 18 in HD, with optional extra services such as HBO and Cinemax.
Monthly subscription fees remain unchanged, though the current Direct One e-Pack discount will end, and subscribers can access the same package under new terms, the statement read.
The acquisition will significantly increase One Magyarorszag’s satellite customer base.
Financial details of the deal were not disclosed. (portfolio.hu; vg.hu; piacesprofit.hu; economx.hu)
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27th November, 2025
Football association backs Rossi
The Hungarian Football Association on Tuesday approved the report written by leading Hungarian national team coach Marco Rossi and expressed support for him.
As a result, Rossi will remain in the position despite the team’s failure to qualify for the 2026 World Cup.
Association president Sandor Csanyi said “We believe that he is capable of recreating the fighting spirit and focus that lasts until the last minute on the pitch, which is a prerequisite for successful international performance.”
At the closed meeting, the parties discussed in detail future plans for the national team and what the management expects from the coach and the team in the coming years.
This renewal is inconceivable without a self-critical analysis of the recent past which the coach provided, the statement said. (atv.hu; blikk.hu; mandiner.hu; metropol.hu)
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