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HungaryTrends – The most important business and finance news
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See below the main business and financial news from the previous week:
HUNGARY’S HIGHEST PAYING JOBS AND WHERE TO FIND THEM
Have you ever wondered which ordinary job pays the most in Hungary? Data from the Hungarian Central Statistical Office revealed that one can find the highest paying job in Hungary in Csongrád county. The good wages are due to the oil and natural gas fields located in the Southern part of the country.
2017: THE YEAR OF RECORD-BREAKING INVESTMENTS
Government efforts to boost investments last year set records both in terms of the number of projects and their value, with 96 investments worth 3.5 billion euros, Foreign Minister Péter Szijjártó said last week.
GOVERNMENT’S AID TO MULTINATIONAL COMPANIES: 22 THOUSAND EUR/NEW WORKPLACE
The Hungarian government gave multinational companies 188 billion HUF (EUR 607.1M) altogether to create new jobs. Based on their calculations these became the most expensive new workplaces in the country. Besides, the reality is far from the one million new workplaces promised before their victory in the 2010 elections.
CLOSED BECAUSE OF LABOUR SHORTAGE
Hungary struggles hard with labour shortage which affects almost every sector of the economy. In fact, commerce is among the most affected ones. The reason is simple: more and more work abroad for better wages. Therefore, multinational supermarket chains like Aldi decided to raise salary. However, it is more and more difficult hold their ground for food supply chains like Coop owning mostly small shops in the countryside. The situations of their shops in villages and small towns are especially bad because of the lack of workforce and purchasing power. Thus, many of their shops open only for a couple of hours during the whole week.
HERITAGE FOUNDATION: DEPRESSING OPINION ABOUT THE HUNGARIAN ECONOMY
According to the conservative foundation, the most serious problems of the Hungarian economy are corruption and the enrichment of businessmen close to the government. For example, former gas fitter and PM Viktor Orbán’s friend Lőrinc Mészáros collected a more significant fortune in only three years than Habsburgs had 90 years ago.
EMA RECOMMENDS PRECAUTIONARY MEASURES FOR RICHTER DRUG
Hungarian pharmaceutical company Gedeon Richter said the European Medicines Agency (EMA) had recommended temporarily restricting prescriptions of its uterine fibroid drug Esmya until a review of potentially related liver injury is completed. The EMA’s Pharmacovigilance Risk Assessment Committee (PRAC) recommended regular live monitoring of women taking Esmya. It also recommended that no new patients should be started on Esmya and no patients who have completed a course of treatment should start another one.
HUNGARY TO SIGN AGREEMENT ON GAS DELIVERIES FROM ROMANIA
Hungary could soon sign an agreement on the import of an annual 4 billion cubic metres of gas from Romania over 15 years, Prime Minister Viktor Orbán said. Three Hungarian-owned companies are in the top three spots in a tender for the gas, he said. From 2021 or 2022, the era of the Russia’s gas monopoly in Hungary is expected to end, as more than half of the gas the country consumes will come from Romania, he added.