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Hungary’s central bank has said it expects inflation will continue rising in the remainder of the year, though from October its upward pace will start gradually easing.
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Venture capital and private equity transactions in Hungary amounted to more than Ft 31 billion in the second quarter, three times as much as in the same period of 2021, the Hungarian Venture Capital and Private Equity Association (HVCA) reports.
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Hungarian central bank rate-setters on Tuesday raised the base rate by 125 basis points to 13%. The rise followed a 100 bp hike at the policy meeting in August.
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Parties of the parliamentary opposition have appealed to the Constitutional Court to scrap a recent law changing regulations concerning the small business tax (kata), the head of Momentum told a press conference broadcast online in front of the top court building in Budapest.
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The European Union has recommended suspending 7.5 Bbillion euros in funds to Hungary over corruption allegations. Hungarian Prime Minister Viktor Orban is accused of mismanaging EU funds and dismantling democratic institutions.
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The European Commission has proposed suspending a part of the EU funds allocated to Hungary over concerns about their mismanagement. Johannes Hahn, the Commissioner for Budget and Administration, told a press conference on Sunday that the EC was proposing to the European Council a suspension of 65% of cohesion funds due to Hungary, amounting to an estimated 7.5 billion euros.
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