Will Orbán cabinet reintroduce fuel price caps in two weeks in Hungary?

Tamás Menczer, the communications director of the ruling alliance of Fidesz and the Christian Democrats, reiterated on Friday the government’s call to Hungarian vehicle fuel retailers to lower the price of petrol and diesel to the regional average price.

“We expect fuel retailers to reduce their prices to the regional average in line with our previous consultations,” Menczer said in a video on Facebook, calling for a 24-forint cut in the price of petrol and an 11-forint cut in the price of diesel.

“If they fail to do so that would mean that they support the government in taking the necessary steps,” he said.

Márton Nagy, Hungary’s national economy minister, called on fuel retailers this Wednesday to adjust their prices to the regional average. He gave two weeks for that. Otherwise, even the reintroduction of the fuel price caps may be on the table, 444.hu wrote.

Confidence in Hungary unceasing?

Confidence in Hungary is unceasing, the National Economy Ministry said on Friday, after S+P Global Ratings affirmed the country’s investment-grade sovereign rating.

Hungary’s economy stands on stable foundations, as reflected by S+P’s report and stable outlook for the rating, the ministry said. Confidence in Hungary is strong, with all three big credit rating agencies putting the country in the investment-grade category, it added.

Hungary’s assessment on international financial markets is favourable, and strong investor and market confidence in the country is underpinned by successful bond auctions and a continuous inflow of FDI, the ministry said. Investors in Hungary include the biggest German car makers as well as Chinese EV maker BYD which is setting up its first manufacturing base in the European Union in Hungary, it added.

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