gordon bajnai
March 12, 2010, 10:26 CET
PM says crisis has sobered up Hungary
Hungary has been sobered by the financial crisis but it still has a long fight ahead, Prime Minister Gordon Bajnai told an economic forum at Szolnok College on Thursday. He listed the steps taken to ease the crisis in the... [read complete entry]
March 11, 2010, 09:33 CET
State infrastructure company issues tender for building of roads to race track
Hungary's National Infrastructure Development Company (NIF) has issued a tender for construction of roads necessary to reach a planned MotoGP motorcycle track in the village of Savoly near Lake Balaton, the latest issue of the Public Procurement Gazette reveals. The... [read complete entry]
March 10, 2010, 09:37 CET
Bajnai gov't spends half of budget reserves available in first half 2010
The Bajnai government has already spent about half of the budget reserves available to it in the first half of the year. The 2010 budget contains 57.3 billion forints (EUR 214.44m) of general reserves, of which the government may spend... [read complete entry]
March 05, 2010, 09:41 CET
PM stresses importance of restoring prestige of work
Hungary's future depends on whether we can restore the prestige of work, Prime Minister Gordon Bajnai said in a lecture at the Széchenyi István University in Győr on Thursday. The premier said 56-57% of Hungary's working age population are in... [read complete entry]
March 03, 2010, 09:58 CET
IMF held no talks with Hungary opposition leaders, fund representative says
The International Monetary Fund has not held negotiations with main Hungarian opposition party Fidesz, IMF representative in Hungary Iryna Ivaschenko told Reuters on Tuesday. Fidesz is widely expected to win the general election due in April. The meeting in February... [read complete entry]
March 03, 2010, 09:49 CET
Analysts say parties offer similar prescriptions for Hungary's ills
Tax cuts and employment growth are the main prescriptions offered by Hungary's major political parties to cure the country's lackluster competitiveness and its social ills. Gordon Bajnai, who is standing down as prime minister, has been a cheerleader for tax... [read complete entry]
March 03, 2010, 09:38 CET
Fidesz leader says pact with IMF premature
Viktor Orban, leader of conservative party Fidesz, said on Tuesday he had not tried to negotiate a deal with the IMF ahead of the spring elections. Orban spoke in response to calls from the ruling Socialists to make public the... [read complete entry]
March 02, 2010, 09:54 CET
Fidesz confirms it is seeking new terms with IMF
Hungary's conservative Fidesz party is preparing the ground for renegotiating terms with the IMF if they assume power after the April elections, Mihaly Varga, the party's deputy leader and senior economic policymaker, said in a television interview. Fidesz has met... [read complete entry]
March 02, 2010, 09:24 CET
MotoGP track investors deny state-back loan is subsidy
A group of investors building a MotoGP motorcycle racetrack near Lake Balaton has said a HUF 15.3bn loan from the state-owned Hungarian Development Bank is being granted project company Savoly Motorcentrum Fejleszto under market conditions, and a HUF 20bn state... [read complete entry]
March 01, 2010, 09:39 CET
PM Bajnai envisages Hungary's euro-entry in 2014
The European currency can be introduced in Hungary on January 1, 2014 if the current economic policy is continued, Prime Minister Gordon Bajnai said on Friday. Bajnai spoke at a business forum in Komlo (SW) and said that out of... [read complete entry]
March 01, 2010, 09:38 CET
Upgrading Hungary's nuclear plant strategic issue, says PM
Upgrading the only nuclear power plant in Hungary is a "national, strategic" issue, Prime Minister Gordon Bajnai told reporters in Paks (C) on Friday. Bajnai spoke following a board meeting of the Hungarian Electric Works (MVM) and said that the... [read complete entry]
February 25, 2010, 10:43 CET
Hungary to face tough times, Fidesz parliamentary leader says in interview
Fidesz parliamentary leader Tibor Navracsics gave warning in a press interview on Thursday that Hungary would face very tough times during its exit from the current economic crisis. "The road leading out of the forest is more or less as... [read complete entry]
February 25, 2010, 10:41 CET
Former central bank chief calls for structural reforms, spending cuts
Hungary's former central bank governor and finance minister Zsigmond Jarai called for structural reforms and cuts in state spending at an economic forum on Wednesday. Mr Jarai said that state redistribution should be scaled back to below 40pc in the... [read complete entry]
February 23, 2010, 09:40 CET
Hungary's prime minister urges tax cuts, competitiveness
Prime Minister Gordon Bajnai on Monday urged the next government to cut taxes and social contributions with an emphasis on reducing labour taxes in order to boost Hungary's economic competitiveness. Addressing the last session of parliament before the April general... [read complete entry]
February 18, 2010, 10:18 CET
Hungary in good position to adopt euro in 2014, Bajnai says in interview
Hungarian Prime Minister Gordon Bajnai said there is a chance that Hungary can adopt the euro in 2014 whatever the outcome of the April general election. In an article in Thursday's Nepszabadsag daily, Bajnai said that Hungarian crisis management was... [read complete entry]
January 28, 2010, 10:13 CET
Bajnai calls time on property tax change
Time has run out to make any changes to the property tax law which was thrown out by the Constitutional Court, Prime Minister Gordon Bajnai said on Wednesday. In the next few weeks the government will review the budget reserves... [read complete entry]
January 25, 2010, 09:50 CET
DemForum PM candidate calls pension system unsustainable
Lajos Bokros, prime minister-candidate of the conservative opposition MDF party, on Friday called Hungary's current pension system unsustainable, and pressed for more competition and closer proximity to labour market needs in higher education. "The pension system is untenable in its... [read complete entry]
January 20, 2010, 08:42 CET
Veres nominated for EBRD vice president
Prime Minister Gordon Bajnai has nominated former Finance Minister Janos Veres for a vice president's post at the European Bank for Reconstruction and Development (EBRD), daily Nepszabadsag said on Wednesday, citing its "own reliable sources". Mr Veres was Finance Minister... [read complete entry]
January 20, 2010, 08:40 CET
Hungary's economy has to grow faster than EU average, says PM
After the crisis, Hungary's growth rate must exceed the European Union average by two percentage points if the country's economy is to be competitive and attract investors, Prime Minister Gordon Bajnai said at a conference in Vienna on Tuesday. Bajnai... [read complete entry]
January 19, 2010, 09:42 CET
Bajnai, Kosor advance pipeline project
A gas pipeline connecting Hungary and Croatia will be completed by the end of the year and will operate at full capacity from the middle of next year, Prime Minister Gordon Bajnai announced after meeting his Croatian counterpart Jadranka Kosor... [read complete entry]
January 15, 2010, 10:49 CET
Gov't extends crisis fund deadline
The government has extended the deadline for receiving bids for support from Hungary's crisis management fund until April 30, the government spokesman told MTI on Thursday. Prime Minister candidate of the Socialist Party Attila Mesterhazy asked Prime Minister Gordon Bajnai... [read complete entry]
December 11, 2009, 09:55 CET
Hungary's economy policy cannot be changed in short term, PM says
Hungary's economy policy cannot be changed in the short term - no matter who will form the next government, Prime Minister Gordon Bajnai said in an interview published in German weekly Die Zeit on Thursday. For another year Hungary will... [read complete entry]
November 25, 2009, 09:56 CET
PM says 2010 will be "tough" year, says employment recovery to lag
Although Hungary's economy may restart growing in the second half of 2010 and the IMF prognosticated a 4 percent GDP growth for 2011, the next year will be "very tough", Prime Minister Gordon Bajnai said at the Budapest Corvinus University... [read complete entry]
November 11, 2009, 09:54 CET
PM says Hungary's next government must continue reforms
Hungary's next government must carry on implementing reforms to successfully transform the country's tax system, health care and state railway MAV, the prime minister said in an interview posted on political-economic weekly Figyelo's web site fn.hu on Wednesday. Hungary's deficit... [read complete entry]
November 05, 2009, 09:59 CET
PM says worst risks of financial crisis over, but export threat remains
Hungarian Prime Minister Gordon Bajnai said on Wednesday that the worst risks of the crisis are over, Hungary has turned away from the edge of the cliff. Interviewed by CNBC television, the prime minister said, however, that the global crisis... [read complete entry]
November 03, 2009, 09:58 CET
Wallis Watch (II): No salary caps for PM's former colleagues
While Prime Minister Gordon Bajnai is making a big show about reducing the compensation of executives at state-owned firms, conservative daily Magyar Nemzet charges that the campaign has spared people he previously worked with at the Wallis Group, which Bajnai... [read complete entry]
November 03, 2009, 09:51 CET
Wallis Watch (I): Will MTV tune out of new headquarters?
We almost missed this interesting piece from a while back on lefty daily Népszava, which claims that state broadcaster MTV is pushing for a new deal on the 55,000 sqm headquarters on Buda's Bojtár utca it has occupied since moving... [read complete entry]
November 02, 2009, 10:15 CET
PM says crisis management to continue as jobless rate keeps rising
European Union heads of state and government agreed that the global economic crisis is not over until unemployment stops rising, Hungary's Prime Minister Gordon Bajnai told the press in Brussels on Friday, after the EU summit. He added that there... [read complete entry]
October 26, 2009, 10:15 CET
Unions ask PM's help in upcoming wage negotiations
Union alliance Mszosz has asked Prime Minister Gordon Bajnai in a public letter for help in the wage negotiations at the National Interest Reconciliation Council to set wage increases and the minimum wage for 2010. There is no chance of... [read complete entry]
October 26, 2009, 10:11 CET
PM says new anti-corruption package to come into force on January 1
The cabinet will submit to Parliament a series of anti-corruption measures that would enter into force on January 1, 2010, Prime Minister Gordon Bajnai announced on Sunday. Bajnai said “it has to be clear to all that anyone who steals... [read complete entry]
September 29, 2009, 08:13 CET
PM says solving unemployment problem biggest challenge
The economic crisis in Hungary will not be over until the employment rate start improving, Prime Minister Gordon Bajnai said on Friday. "The time has not yet come to halt economic stimulation; this is the Hungarian government's message to European... [read complete entry]
September 25, 2009, 11:04 CET
Bajnai warns foreign investors worried about elections
American investors Hungary's Prime Minister Gordon Bajnai met in New York voiced concern about the situation that may develop in Hungary after the next general elections, Bajnai told MTI on Thursday, the last day of his visit to the US.... [read complete entry]
September 25, 2009, 10:03 CET
PM says Hungary to lead region out of crisis, become self-financing
Hungary will be able to finance itself from the markets once measures targeting a control of the budget deficit win back investor confidence, Prime Minister Gordon Bajnai said on Thursday, news wire Bloomberg reported. "If no sudden recession occurs on... [read complete entry]
September 22, 2009, 10:52 CET
PM says Hungary can retake position as leading economic power in region
Hungary can retake its position as a leading economy in Central Europe, a position it enjoyed in the second half of the 90s, Prime Minister Gordon Bajnai told Hungarians at an event in New York. Hungary has reached a very... [read complete entry]
September 18, 2009, 10:44 CET
PM says government to continue crisis management, despite hopeful signs
Despite signs of stabilisation in the Hungarian economy, the government thinks that current measures of active crisis management must be maintained, Prime Minister Gordon Bajnai told Hungarian reporters on Thursday, on arrival for an extraordinary European Union summit in Brussels.... [read complete entry]
September 14, 2009, 10:12 CET
PM says lower budget deficits to make Hungary less vulnerable
Hungary must keep its budget deficit down to make the country less vulnerable to movements on global debt markets, Prime Minister Gordon Bajnai said at a meeting of the Economic and Social Council in Parliament on Friday. Developed economies with... [read complete entry]
September 10, 2009, 10:18 CET
Government approves "frugal" draft 2010 budget
Hungary's government on Wednesday endorsed the 2010 budget bill which provides for a deficit target of 3.8pc of GDP, Prime Minister Gordon Bajnai announced on Wednesday.... [read complete entry]
September 04, 2009, 10:41 CET
Nokia Siemens Network expected to expand Budapest operations
Nokia Siemens Network could expand its centre in Budapest which currently has a staff of 800, Prime Minister Gordon Bajnai said after meeting with top Nokia officials in Helsinki on Thursday. Talks on the expansion will start in the coming... [read complete entry]
September 04, 2009, 10:38 CET
Bajnai bids to strengthen R&D ties with Finland
Hungarian Prime Minister Gordon Bajnai invited head of the Finnish Innovation Fund (SITRA) Mikko Kosonen to Budapest in order to create closer partnership between the Fund and the similar Hungarian organisations during his visit to Helsinki on Thursday, government spokesman... [read complete entry]
September 04, 2009, 09:57 CET
Bajnai refuses to soften taxes, commits to security and health care
“The government will not make any changes to the tax laws, even if the economic decline is steeper than expected,” Prime Minister Gordon Bajnai said in an interview with “Although the government expects GDP to drop 6.7% this year, a... [read complete entry]
September 01, 2009, 09:32 CET
Socialist caucus backs budget proposal
The Socialist caucus unanimously supported the government's draft budget, caucus leader Attila Mesterházy told reporters at a press briefing he held with Prime Minister Gordon Bajnai and Finance Minister Péter Oszkó in Budapest on Monday. Bajnai said the draft budget... [read complete entry]
July 16, 2009, 11:03 CET
PM says gov't tax measures to make Hungary's enterprises more competitive
Tax changes that will leave Hungarian companies with an extra HUF 400bn in 2010 will make them more competitive when the market turns around, Prime Minister Gordon Bajnai said while visiting a company in Ajka (NE Hungary) on Wednesday. "It... [read complete entry]
July 10, 2009, 09:58 CET
PM says gov't focused on addressing long-term structural challenges
Prime Minister Gordon Bajnai said in a magazine interview published on Thursday that the government is taking measures to correct structural weaknesses in Hungary's economy in addition to those aimed at managing the effects of the global economic crisis. Speaking... [read complete entry]
July 03, 2009, 10:29 CET
PM says further spending cuts needed to keep deficit target
Hungary needs further spending cuts to meet the 2010 budget deficit target, but revoking the crisis management measures as pledged by the opposition would bring the country to an immediate economic and financial collapse, Prime Minister Gordon Bajnai told national... [read complete entry]
June 26, 2009, 10:27 CET
PM says Parliament may pass 2010 budget in November
Hungary's parliament could pass the 2010 budget as early as November, a few weeks earlier than usual, Prime Minister Gordon Bajnai said on Hungarian public television on Thursday. Bajnai said it was a top priority to have the budget ready... [read complete entry]
June 24, 2009, 09:55 CET
PM names candidate to head financial watchdog PSZÁF
Prime Minister Gordon Bajnai has named former CEO of Allianz Bank Adam Farkas as his candidate for the supervisory board president of Hungary's financial market regulator PSZAF, the Prime Minister's office told MTI on Tuesday. Bajnai has proposed in a... [read complete entry]
June 12, 2009, 09:35 CET
Bajnai shoots down opposition proposal to ditch deficit target
Prime Minister Gordon Bajnai said a general government deficit over 3.9pc of GDP -- the most recent limit approved under Hungary's loan agreement with the IMF and EU -- would be unacceptable to foreign investors, when asked by MTI at... [read complete entry]
June 10, 2009, 10:46 CET
PM says Hungary may switch IMF financing for debt issue
Hungary may not have to spend all of its IMF loan and if a recent improvement in investor sentiment remains lasting could return to the debt market, Prime Minister Gordon Bajnai said on Tuesday. The IMF told Hungary in the... [read complete entry]
June 09, 2009, 09:40 CET
Markets hold breath as analysts see Bajnai staying in power, continuing reforms
Hungary's political parties, with the "somewhat worrying" exception of the radical party Jobbik, performed as expected in Sunday's European Parliamentary election, and the most likely outcome is that the government of Gordon Bajnai will stay in place, London-based financial analysts... [read complete entry]
June 08, 2009, 10:27 CET
Opposition calls on PM, National Bank head to resign over off-shore tax row
Hungary's main opposition Fidesz called on Prime Minister Gordon Bajnai and Central Bank President Andras Simor to resign over allegations of using off-shore business to dodge tax payments, the party's parliamentary group leader Tibor Navracsics said on Friday. Bajnai has... [read complete entry]
June 04, 2009, 12:36 CET
Bajnai says Fidesz pledge to reverse austerity measures would "bankrupt" Hungary
If the opposition were to carry out its promise to "eliminate and withdraw" the current government's austerity measures, the central budget would be plunged into bankruptcy, Prime Minister Gordon Bajnai said in an interview carried by three regional papers in... [read complete entry]
May 26, 2009, 09:14 CET
PM says tax package to bring back "honor" to work
Bringing back honour to work is at the centre of the government's 2010 tax package, Prime Minister Gordon Bajnai said in Parliament on Monday. The government wants to tax consumption and assets to a greater degree, countering a reduction in... [read complete entry]
May 22, 2009, 10:33 CET
Only 5% of Hungarians to pay new property tax, PM says
The property tax, as proposed by the government, will leave 95 percent of Hungarian residents unaffected, Prime Minister Gordon Bajnai said on public Hungarian Television on Thursday. The proposed tax will be equitable, involving the wealthy to contribute to the... [read complete entry]
May 19, 2009, 08:40 CET
Bajnai pushes for 50% pay cut for board members of state firms
Prime Minister Gordon Bajnai initiated a 50 percent reduction in pay to board members of state-run companies, in parliament on Monday. The prime minister has instructed the state asset management agency to set a cap of 2 million forints (6,965... [read complete entry]
May 18, 2009, 10:44 CET
PM says regaining international confidence for Hungary top priority
Restoring international confidence in Hungary is the government's top priority, Prime Minister Gordon Bajnai told reporters on the sidelines of the Wachau Europe Forum in Goettweig, Austria, on Saturday. "Currently the most important issue is to have the trust of... [read complete entry]
May 12, 2009, 08:42 CET
Bajnai concedes economy may shrink by more than 6% in '09
Hungary's economy will shrink by more than 6% this year but less than 7% and will level off next year, Prime Minister Gordon Bajnai told ATV Monday evening. The state budget has reserves available if the recession reaches 6%, Bajnai... [read complete entry]
April 30, 2009, 09:52 CET
MOL share purchase by Russian firm continues to vex Hungarian politicians
Hungary's government was not in a position to prevent the fast and unexpected sale of a 21.2 percent stake in Hungarian oil and gas company MOL by Austrian peer OMV to Russia's Surgutneftegas at the end of March, Prime Minister... [read complete entry]
April 30, 2009, 09:10 CET
PM outlines plan for tackling "chain debts" in construction industry
Hungary's government is planning to introduce a programme to halt the debt chain in the construction industry, Prime Minister Gordon Bajnai said on Wednesday.... [read complete entry]
April 27, 2009, 08:10 CET
Trade union confederation calls for general strike on May 8
The Liga trade union confederation has called for a nationwide strike on May 8 in protest against the programme of new Prime Minister Gordon Bajnai, Liga said in a statement on Friday.... [read complete entry]
April 24, 2009, 07:38 CET
PM says gov't plans stricter taxation of Hungarian firms' offshore activities
Prime Minister Gordon Bajnai said in a radio interview on Thursday that the government would be far more strict when taxing Hungarian assets invested in tax heavens.... [read complete entry]
April 22, 2009, 12:48 CET
Nick Vardy for Economy Minister!
Sometime within the next week, new Hungarian PM Gordon Bajnai is expected to announce his nominee for Economy Minister, the spot having been rendered empty by the messy withdrawal of Tamás Vahl. Though the fix is probably already in for... [read complete entry]
April 22, 2009, 09:17 CET
Bajnai to ask banks to easing conditions for struggling borrowers
Prime Minister Gordon Bajnai will ask Hungary's banks to ease conditions for mortgage borrowers struggling to pay their monthly installments, according to a government document seen by MTI on Tuesday.... [read complete entry]
April 20, 2009, 10:50 CET
Bajnai unveils details on crisis-management package
"The cabinet will draw up a clear and transparent action plan to show people what it is doing to lead the country out of the crisis in the next few days," Prime Minister Gordon Bajnai announced yesterday, while outlining the... [read complete entry]
April 20, 2009, 09:43 CET
Former economy minister sees 10% GDP contraction, unemployment up to 12%
Former economy minister Gyorgy Matolcsy forecast a 10 percent shrinking of Hungary's economy and a 12-15 percent unemployment, at a conference on Saturday. Former central bank governor Zsigmond Jarai blamed former Prime Minister Ferenc Gyurcsany and his successor, Gordon Bajnai... [read complete entry]
April 17, 2009, 09:46 CET
Incoming PM says economic plan based on GDP contraction of up to 6%
Incoming Hungarian Prime Minister Gordon Bajnai's economic package calculates with a 5.5-6 percent recession for this year, MTI learnt on Thursday.... [read complete entry]
April 16, 2009, 10:39 CET
International markets ease terms for Hungary's debt after Bajnai sworn in as PM
The day after Gordon Bajnai was sworn in as Hungary's new crisis-managing prime minister, the cost of insuring the country's debt fell, market analysts said on Wednesday.... [read complete entry]
April 15, 2009, 09:40 CET
New PM Bajnai to present crisis-management program this week
Prime minister-designate Gordon Bajnai said in Parliament on Tuesday that he will reveal his crisis-management programme this week following the initial meeting of his new cabinet.... [read complete entry]
April 15, 2009, 09:24 CET
Analysts say new gov't program still short on details, but team promising
It is hard to draw conclusions from the government programme outlined by incoming prime minister Gordon Bajnai, as details of it were still missing, analysts asked by the daily Nepszabadsag on Wednesday agreed.... [read complete entry]
April 09, 2009, 10:06 CET
Public-sector wages, pensions to be focus of incoming PM's budget reforms
The biggest portion of the austerity package of prime minister designate Gordon Bajnai will affect public-sector wages and pensions, people close to the government told MTI on Wednesday.... [read complete entry]
April 03, 2009, 11:19 CET
PM nominee Bajnai plans budget cuts of up to Ft 900 billion
Hungary's presumptive prime minister, Gordon Bajnai, is expected to cut spending by between 850 billion forints (EUR 2.8 bn) and 900 billion, sources who wished to remain unnamed told MTI on Thursday.... [read complete entry]
April 02, 2009, 10:00 CET
FinMin concedes Hungarian economy to contract more than earlier forecasts
Finance Minister Janos Veres told MTI on Wednesday that he expected Hungary's economy to contract more than previously forecast.... [read complete entry]
March 30, 2009, 11:43 CET
Prospective PM outlines up to Ft 500 billion in spending cuts
Hungary's Economy Minister Gordon Bajnai outlined a two-year programme with 300-500 billion forints (EUR 988m-1.65bn) worth of spending cuts in case he is chosen as the new prime minister, a senior socialist official told the press on Sunday.... [read complete entry]
March 26, 2009, 08:28 CET
Economy Minister warns of deeper recession if EU markets slow further
Hungary may need to cut its growth forecast if major European economies contract more than previously thought, Hungarian economy minister Gordon Bajnai said on Wednesday, Reuters reported from London. "If Germany, Italy, France and Austria contract more than before, we... [read complete entry]
March 23, 2009, 03:53 CET
BP to establish service centre in Budapest; staff may exceed 1,000
British Petrol (BP) will set up a service centre in Budapest in the near future, offering jobs for 1,000 people, economics minister Gordon Bajnai announced on Monday.... [read complete entry]
March 17, 2009, 08:43 CET
Economy Minister warns of currency crisis, "social collapse" without deep reform
Hungary will witness a currency crisis this year unless the government implements radical structural reforms, the economy minister said in an interview to Monday's Nepszabadsag daily.... [read complete entry]
March 16, 2009, 08:19 CET
Austrian banks remain committed to Hungarian units, officials say
Austria's big banks are committed to Hungary and will ensure the necessary capital for the operation of their units there, National Development and Economy Minister Gordon Bajnai said on Friday, after meeting with the heads of Erste Bank and Raiffeisen... [read complete entry]
March 12, 2009, 09:01 CET
Economy Minister says big steps needed to regain investor confidence
Hungary has to achieve a 3pc- to 4pc-of-GDP surplus in its primary balance next year, and a 4-5pc surplus in the long term if it is to win back and maintain investor confidence, National Development and Economy Minister Gordon Bajnai... [read complete entry]
February 19, 2009, 10:51 CET
Economy Minister says nationalization of Hungarian banks "unlikely"
There is no need for the Hungarian state to acquire ownership in any of the country's commercial banks, Economy Minister Gordon Bajnai said on Wednesday.... [read complete entry]
February 16, 2009, 03:33 CET
Gov't to foreign investors: we need you, now go away
As in other countries around the globe, the frantic efforts by the Hungarian government to concoct and communicate a response to the deepening economic crisis have resulted in a number of false starts and embarrassing U-turns. But it's hard to... [read complete entry]
February 16, 2009, 08:26 CET
Economy Minister says Hungary's economic crisis could last two years
The economic crisis will be longer -- it could last as long as two years -- and have a bigger effect on society, putting businesses and employees into crisis, National Development and Economy Minister Gordon Bajnai told a conference on... [read complete entry]
February 12, 2009, 09:17 CET
State to allocate Ft 1.8 trillion for construction works over coming 18 months
Hungary's government will allocate HUF 1,800bn (EUR 6.24bn), most of which will be derived from EU funding, for construction investments over the next year and a half, National Development and Economy Minister Gordon Bajnai said at a press conference on... [read complete entry]
February 11, 2009, 10:13 CET
Bajnai says lagging competitiveness demands improved incentives for work
Hungary has entered a competitiveness and convergence crisis because its tax system and its employment and social system do not offer enough incentive to work, National Development and Economy Minister Gordon Bajnai said on Tuesday, presenting the Competitiveness Yearbook 2008.... [read complete entry]
February 11, 2009, 09:28 CET
Economy Minister says gov't plans big push for new foreign investment
Hungary's government plans to introduce an economic policy aimed at stimulating the flagging economy by encouraging foreign companies to invest in the country, Gordon Bajnai, the economy and national development minister, told a news conference on Tuesday.... [read complete entry]
February 10, 2009, 09:12 CET
SMEs to get Ft 140 billion n preferential state-guaranteed loans
Some HUF 140bn in current assets loans will be available to SMEs with the participation of five banks, so far, National Development and Economy Minister Gordon Bajnai said on Monday.... [read complete entry]
February 03, 2009, 08:26 CET
Bajnai pushes Brussels for quicker disbursement of EU cash to firms
Hungarian Economy Minister Gordon Bajnai on Monday met EU Commissioner for Regional Policy Danuta Hubner in Brussels and agreed on speeding up and simplifying EU development funding to companies.... [read complete entry]
January 30, 2009, 09:26 CET
Bajnai says gov't will offer more EU cash to SMEs
Hungary will provide grants using EU funding of up to 50 million forints to small businesses with fewer conditions in order to help them weather financial crisis, Economy Minister Gordon Bajnai told parliament on Thursday.... [read complete entry]
January 26, 2009, 03:07 CET
PM calls for significant cuts in taxes, social contributions
Substantial reductions in Hungary's taxes and contributions are necessary, Prime Minister Ferenc Gyurcsany said on Monday after meeting with economists.... [read complete entry]
January 26, 2009, 10:43 CET
Gyurcsány says economic crisis management plan on way
Hungary's cabinet will be the first in the EU to formulate an authentic economic and social policy programme in the coming days, Prime Minister Ferenc Gyurcsány announced on Friday after meeting with Hungarian economists on global economic trends in Parliament.... [read complete entry]
January 22, 2009, 08:55 CET
Gov't to offer support for companies to retain R&D employees
The government will soon offer support to companies to keep their R+D staff, National Development and Economy Minister Gordon Bajnai said after a meeting of the Auto Industry Competitiveness Working Group on Wednesday.... [read complete entry]
December 29, 2008, 10:36 CET
Economy minister lauds Hungary's success at spending EU funds
Hungary has accessed 99.6 percent of the European Union development resources made available to it in the National Development Plan 2004-2006, for which support may be claimed up until December 31 of this year, the Development and Economy Minister told... [read complete entry]
December 12, 2008, 10:06 CET
Hungary seeks int'l support for proposal to ease limits on company subsidies
Paris supports a proposal by the Hungarian government to either double the limit on direct subsidies for companies over the next two years or to allow wage support subsidies for small businesses, Hungary's National Development and Economy Minister Gordon Bajnai... [read complete entry]
December 08, 2008, 08:35 CET
Government plan to help auto industry suppliers during production crisis
Hungary's government will launch a programme early next year to help car industry suppliers survive the period of recession marked by declining production and layoffs, Minister of National Development and Economy Gordon Bajnai said in Kecskemet, C Hungary, on Friday.... [read complete entry]
November 26, 2008, 08:00 CET
Ministerial meeting puts spotlight on booming Hungary-Serbia economic ties
Hungary's Economy Minister Gordon Bajnai met with Serbia's Minister of Trade and Services Slobodan Milosavljevic in Budapest on Tuesday.... [read complete entry]
November 24, 2008, 09:19 CET
EcoMin vows employment subsidies as "massive" layoffs appear on horizon
Thousands of employees could be laid off in the coming weeks, Hungary's Economy Minister Gordon Bajnai warned at a press conference in Budapest on Saturday, but he added that the government would provide targeted subsidies to small and medium size... [read complete entry]
November 21, 2008, 08:27 CET
Six months needed for results of gov't crisis response to appear, EcoMin says
The government has taken the measures needed to handle the financial crisis, Development and Economy Minister Gordon Bajnai told a German-Hungarian forum in Budapest on Thursday.... [read complete entry]
November 13, 2008, 03:05 CET
Government discusses growth programs with opposition, business leaders
Business leaders and politicians participating in an economic summit on Thursday, convening to address the hardships facing Hungary's enterprises due to the global financial crisis, emphasised the need for stimulus measures while keeping tight control over spending.... [read complete entry]
November 13, 2008, 02:45 CET
Hungarian economy minister announces Ft 1.4 trillion stimulus package
Some HUF 1.4 trillion in direct subsidies -- much of it from a restructuring of EU funding -- will be available to Hungarian companies in the next two years, National Development and Economy Minster Gordon Bajnai said at an economic... [read complete entry]
November 10, 2008, 09:05 CET
Economy Minister says gov't funding of businesses to hit Ft 1 trillion
Government funding to boost businesses will increase to one trillion forints from 800 billion announced earlier, Economy Minister Gordon Bajnai said on Friday.... [read complete entry]
October 27, 2008, 09:40 CET
Development loan requirements relaxed for SMEs
A program established by the government and the Hungarian Development Bank (MFB) is offering development resources to SMEs under easier conditions than those available earlier, reports Napi.hu. Growth requirements for companies winning EU tenders were reduced by 1% retroactively, and... [read complete entry]
October 13, 2008, 09:15 CET
Gyurcsány presents 12-point economic rescue plan
Prime Minister Ferenc Gyurcsany presented a 12-point action package at talks on how best to weather the global financial crisis, in parliament on Friday afternoon.... [read complete entry]