 |
|
 
|
|
|
HATC SAMPLE EDITION:
|
|
8th October, 2026
EU takes Hungary to court over MOL Croatian claim
The European Commission (EC) is taking Hungary to the Court of Justice of the European Union (CJEU) over a dispute involving MOL and Croatia, Croatian daily VeÄŤernji List reports.
The International Centre for Settlement of Investment Disputes (ICSID) in Washington ruled in MOL’s favour in 2022, and a US federal court in Washington later converted the award into a judgment worth $286 million, potentially allowing MOL to pursue Croatian assets in the US.
According to VeÄŤernji List, the EC argues that Hungary should have prevented MOL from seeking recognition and enforcement of an arbitration award in a non-EU country because the award is incompatible with EU law.
The EC reportedly considers MOL to be under Hungarian state control, based not only on the state’s ownership stake but also on its ability to exercise decisive influence over the company.
The EC’s position is based on CJEU case law that has ruled intra-EU investment arbitration to be incompatible with EU law.
If the CJEU upholds the EC’s case, Hungary would be required to remedy the breach.
One possible consequence, according to the report, could be an obligation for the government to prevent MOL from enforcing the US ruling. (hvg.hu; magyarhirlap.hu)
|
8th October, 2026
Meszaros-Szijj consortium may accept end to motorway concession
A consortium linked to Lorinc Meszaros and Laszlo Szijj has accepted the cabinet decision and is prepared to cancel the 35-year, Ft 23 trillion motorway concession agreement signed with the Fidesz government, Prime Minister Peter Magyar said on Facebook.
However, MKIF told HVG that it is negotiating with the Ministry of Transport and Investment over the future of the Ft 23 trillion concession.
The Orban government awarded the 35-year contract to build and maintain motorways with MKIF in May 2022, and paid it Ft 700 billion until the end of 2025.
Owned through private-equity funds linked to billionaires Meszaros and Szijj, MKIF took over the operation, maintenance and development of 1,200-1,300km of motorways and expressways from September 2022, while also undertaking new construction and expansion. The state pays an availability fee under the arrangement.
The Magyar government reviewed the contract and said in September that some services were significantly overpriced and several provisions were unlawful.
MKIF said it would not comment on the details until the talks are concluded.
Magyar and Transport and Investment Minister David Vitezy said at a September 18 press conference that the concession was “over” and that a formal complaint would be filed against MKIF regarding suspected overpricing. (portfolio.hu; hvg.hu; telex.hu; 24.hu; 444.hu; economx.hu)
|
8th October, 2026
Vitezy floats public-procurement bans for Fidesz-favoured firms
Transport and Investment Minister David Vitezy said the government had identified indications of serious irregularities in past public-procurement procedures involving figures linked to the previous administration and would take action in the coming weeks.
Vitezy said the measures could affect companies associated with prominent Fidesz-era businessmen, including Lorinc Meszaros and Laszlo Szijj.
Such proceedings could ultimately prevent the companies concerned from competing for public construction contracts, said Vitezy. (hvg.hu; telex.hu; 444.hu; nepszava.hu)
|
8th October, 2026
OTP urges end to banks special taxes
Hungary’s banking sector has paid Ft 2,654 billion in sector-specific taxes between 2010 and 2026, rising to Ft 5,258 billion when other levies are included, OTP CEO Peter Csanyi said in a presentation.
The windfall tax increase introduced last November means banks’ tax payments this year exceed corporate-tax revenues, Csanyi said, arguing that the government should urgently set out a plan to reduce and eventually phase out the sector’s special tax burden.
OTP’s experience in Bulgaria and Croatia, both of which adopted the euro, suggests that credible economic policy can drive bond-yield convergence well before euro adoption, he said.
Foreign investors are making a similar bet on Hungary, but this depends on a predictable fiscal path, as a loss of confidence could trigger a sell-off in government bonds and a sharp rise in yields.
Investors will assess the government’s three-year convergence programme for both realism and credibility. Meeting the 2029 deficit target will require an additional fiscal adjustment of about 1.4 percentage points. (portfolio.hu; vg.hu)
|
8th October, 2026
Lidl tops discount grocery sector
Food retail chain Lidl has significantly outperformed rivals Aldi and Penny in Hungary since 2019, according to a HVG analysis covering the six years through 2025.
The three chains generated combined domestic net revenue of nearly Ft 12.6 trillion and aggregate profit of about Ft 212 billion.
Lidl accounted for almost Ft 6,900 billion of revenue and Ft 204 billion of profit, compared with Ft 2,869 billion and Ft 21 billion for Penny.
Aldi generated Ft 2,812 billion in revenue but recorded a cumulative loss of almost Ft 13 billion.
Lidl’s annual revenue rose from Ft 551 billion in 2019 to Ft 1,483 billion in 2025, while Penny’s increased from Ft 269 billion to Ft 562 billion and Aldi’s from Ft 246 billion to Ft 533 billion.
Lidl remained profitable throughout, while Penny recorded losses in 2022 and 2025 and Aldi has been loss-making for the past three years.
Lidl also led on revenue per store, increasing from Ft 3.03 billion in 2019 to Ft 6.74 billion in 2025. Penny’s grew from Ft 1.21 billion to Ft 2.28 billion, while Aldi’s increased from Ft 1.71 billion to Ft 2.85 billion between 2019 and 2023 before levelling off.
The Hungarian Aldi is moving towards hard discounting. This means a narrower selection than before and the most cost-effective operation possible, HVG observes. (hvg.hu)
|
|
|
|
 Contact
Free Trial Subscription
|
|
