It would be a tad hypocritical to lambaste the Hungarian government from across the pond in Canada, for what appears to have been a technical glitch resulting in a delay in pension and various social solidarity disbursements. Canadian readers will recall the Phoenix payroll debacle. Tens of thousands of federal civil servants were underpaid, not paid at all or in […]
Hungarians are seeing a major increase in their wages, with the average gross monthly salary now standing at 297,000 forints, or US$1,154. This represents a 14.4% increase compared to 2016 figures released by the Central Statistical Office (KSH). Inflation in Hungary is at just 2.3%. The bulk of the increase is connected to the 15% to 25% rise in the […]
During one of many party forums in Budapest, where National Economy Minister Mihály Varga and National Defence Minister István Simicskó were tasked with explaining the dangers of “the Soros network,” under a screen that read “let’s stand up for Hungary” and an unflattering photo of George Soros, a journalist was assaulted by a local Fidesz politician. Júlia Halász of the […]
The Orbán government surprised the business world on Thursday, including the National Alliance of Employees and Employers, when it declared without any prior consultation that the country’s capital gains tax would be slashed from 19% to just 9% in 2017. Hungary’s dramatically reduced corporate tax rate of 9% makes it even more appealing than the already low corporate taxes paid […]
Hungary’s economy minister Mihály Varga has been named “Finance Minister of the Year, Central and Eastern Europe 2015” by London-based Euromoney Emerging Markets magazine. Government media in Budapest and the Hungarian Embassy in Washington are praising Mr. Varga and the ruling Fidesz party is elated by Euromoney’s choice. Is this another example of Prime Minister Orbán’s successful economic policy? Many […]
