Europe

Will the Hungarian government give in to Brussels to save the forint?

European Commission Brussels

The Hungarian government is becoming more accommodating to Brussels’ demands. What is the point of this capitulation? Has the government also realised that the forint cannot be allowed to depreciate indefinitely?

The government is more lenient

When asked by 444.hu what the Hungarian government seems to be more lenient on, a Brussels-based expert replied that it seems to be more lenient on everything. This expert has a good insight into the negotiations between the European Commission and the Hungarian government on the reconstruction fund (RRF).

As 444.hu puts it, there is a lot of money at stake, and very little time left to get it. EUR 5.8 billion of aid is pending and a further EUR 9.6 billion in soft loans. 70 percent of the aid will be lost if the European Council does not approve the Hungarian government’s plan to spend the money by the end of the year.

The Council will have four weeks to approve the Hungarian plan if the Commission approves it first. This means that in any case, the Commission must approve the plan, which Hungary has not yet even submitted, by November at the latest.

The funds would be very important

This money would be very important to the government, especially as it has already spent some of it in advance. For example, it was going to pay for this year’s pay rise for doctors, but it has also started to finance some investments and grants that can be won through tenders.

But just as importantly, Hungary is the only EU member state that would apply for the reconstruction fund, but does not yet have an approved plan – this also contributes to the weakening of the forint. This makes investors see Hungary as riskier than other European countries.

“The government wants to do everything it can to make peace with Brussels over EU funds,” György Jaksity, founder of Concorde Securities, told Forbes.hu. He said that the forint is moving towards the category of play money, but at least the government does not want to kick us out of the EU for the time being. The country would be incapable of adopting the euro and the world would be incapable of sending Russia packing.

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Fidesz: Tying recovery funds to global minimum tax ‘unlawful’

It is “incorrect and unlawful” by Brussels to tie the transfer of recovery funds due to Hungary to the approval of the global minimum tax, the head of parliament’s economic committee said on Thursday.

Erik Bánki said that the Brussels elite were still making every effort to force member states to introduce the global minimum tax. The approval of the global minimum tax would double the tax burden on Hungarian companies, he said. “This would be unacceptable even in peacetime but outrageous at a time of war,” he said.

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Bánki said the European Parliament “went further down the slide” when it yielded to left-wing pressure on Monday and passed a resolution that deprives Hungary of its right to represent its interests and position, he said. They went as far as making threats to hold back the transfer of recovery fund money, he added.

“Instead of causing Europe a disadvantage in competition at the time of war, Brussels should work on restoring peace with no delay,” he said.

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Hungary and EU to receive monkeypox vaccine

Rawpixel laboratory test

In Hungary, 7 new cases of monkeypox have recently arisen. The National Centre for Public Health’s (NNK) laboratory for dangerous pathogens is continuing research. Meanwhile, the number of confirmed monkeypox cases in Hungary rose to 19, NNK says. Seeing as the situation is taking a turn for the worst, the EU is preparing vaccines for all Member States. Continue reading below to find out more.

The epidemic that began this spring is beginning to look ever so worrying. The number of monkeypox cases in the world has almost tripled in a month, reports Portfólio. Authorities and governments are taking the threat of the virus more seriously. Many private laboratories in the US are now evaluating PCR tests. Multiple countries are starting to buy and even distribute vaccines. At present, monkeypox appears to be more prevalent among people with multiple sexual partners, including men.

Monkeypox in Hungary

The total number of monkeypox cases in Hungary is 19, including 7 new cases. The 7 Hungarian men infected with monkeypox are aged 29-41 years. Most of these patients are living in Budapest. Patients with mild symptoms stay at home in isolation. Origo elaborates that the new cases did not require hospilatisation.

Investigations regarding the virus show the following results. The incubation period of the virus is usually between 6 to 13 days, although it can be as long as 21 days in some cases.

The disease starts with general, non-specific symptoms such as fever, chills, muscle aches, back pain, headache, fatigue, and swelling of the lymph nodes. Following the initial symptoms, skin rashes start to develop. Rashes can occur anywhere on the face, palms, and soles. They may also appear inside the mouth and around the groin area.

EU is trying to control the situation

The number of monkeypox cases worldwide is above 6,000. This is an alarming increase considering that the number of cases on 1 June was only 702.

According to statistics from Our Word in Data, the highest number of cases, 1,077, are in the UK. In Hungary, there are 19 cases so far, according to the National Centre for Public Health. It is important to note that no case of monkeypox in the EU has resulted in death.

To combat the situation, the EU, alongside the US, is developing two types of vaccines. ACAM200 and JYNNEOS are the names of said vaccines. Tests show that the second vaccine containing live, attenuated virus was more effective and had fewer side effects.

The European Commission’s Emergency Preparedness and Response Authority for Public Health announced on 28 June that the first round of vaccine doses purchased by the EU in response to the monkeypox epidemic will soon be delivered. Of the 109,090 doses now being purchased, 5,300 doses will first arrive in Spain.

Hungarian authority confirms local source of Belgian chocolate contamination

chocolate

Hungarian food safety authority Nebih confirmed on Wednesday evening that a delivery of soy lecithin from a Hungarian company was the source of a recent salmonella contamination at a Barry Callebaut plant in Wieze, Belgium.

The Brussels Times reported earlier on Wednesday that a Hungarian delivery was the source of the contamination at the plant, the biggest chocolate factory in the world, and a spokesman from Belgium’s Food Safety Agency told the paper that the Hungarian authorities had been informed of the matter.

Responding to a query by MTI, Nebih said a probe at the company in question had revealed that samples of lecithin shipped out of the country were contaminated with salmonella. The company voluntarily took the necessary measures, it added.

The contaminated product was not shipped to any other companies, Nebih said, adding that further samples are being examined.

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Hungary set to become regional defence industry hub in manufacturing, R+D

hungary labour market

The government considers it a priority goal of its national and economic strategy that Hungary should become a decisive defence industry hub for central Europe in terms of manufacturing and research and development, an official of the ministry of technology and industry said on Wednesday.

Zsolt Kutnyaszky told the press at an event presenting Rheinmetall’s plant and elements of its off-road test track in Zalaegerszeg that the strategic goal is for the Hungarian Army to possess the means that guarantee self-sufficiency. The high-tech defence industry should generate an annual turnover of at least HUF 500 billion (EUR 1.2 billion) next year and have significant research, development and innovation capabilities, he added.

National security and economic interests justify the manufacturing of as much strategic equipment within Hungary as possible, he said. Increased capacities will reduce dependence on external suppliers which limits national autonomy, he added. The state acting as an investor can then acquire the most up-to-date equipment and technology under preferential conditions, Kutnyaszky said.

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Hungarians face danger in Italian landslide! – VIDEO

Hungarians in italian mountains

Dozens of people have been buried by snow in the Dolomites in northern Italy. A massive-scale search is underway for more missing people, MTI reports. Press recently confirmed that Hungarian people were also in the middle of the catastrophe. Continue reading below to find out more.

Catastrophe in the mountains

At least six people were killed on Sunday by an ice slide on the slopes of the Marmolada, the highest mountain group in the Dolomites in northern Italy. The ice, which broke off the summit of the Marmolada, also crushed several groups of hikers attempting to reach the summit, reports Telex. According to local rescuers, the snow buried dozens of people, but they are still searching for more missing people.

Gianpaolo Bottacin, a civil protection adviser for the Veneto province, provided information to ANSA Italy. He said that they were able to rescue nine injured civilians. He added that a lot of people are still missing, but they continue to search for them. Caught on camera is the ice breaking off the mountain summit.

People are still searching for an answer to what might have caused such a huge landslide. However, several scientists are speculating that global warming might have played a hand in the brutal catastrophe.

Hungarians in the face of danger

Local officials were also investigating the nearest car park from the disaster site. They have confirmed that an empty car with a Hungarian licence plate has been found, reports Index.

On Monday, MTI contacted Máté Paczolay, spokesperson of the Hungarian Foreign Ministry. He told that a group of Hungarians travelled 3,300 metres in altitude into the Marmolada ridge. That is when the landslide occurred. Other than the vehicle mentioned above, locals found another car, which also belongs to Hungarians.

Italian officials used a helicopter to rescue a group of eight Hungarians after the disastrous accident. All eight survivors were transported safely away from the disaster site. After confirming that they needed no further medical attention, they were ready to leave the area. They all managed to return to Hungary as well.

Spokesman Paczolai also confirmed that none of the missing or injured victims are of Hungarian nationality. He also added that the embassies are keeping constant contact with Italian disaster management. They are keeping a close eye on any events to follow.

New Hungarian licence plates are here! – PHOTOS

New Hungarian licence plates from 1 July - MTI/Demecs Zsolt

On 1 July, Hungary is introducing its new licence plates for Hungarian vehicles. Who will receive them? What do we need to do to change our old plates? What do the new licence plates look like? Continue reading this article on this brand new change to find out the answers to these questions.

According to the Hungarian Government, the new Hungarian number plates will be one letter longer. This is because the current set of characters would have run out within a few years. The new, longer number plates will now replace the old ones in a gradual, ascending order.

Back in 1990, the previous 3 letters-3 numbers licence plates were introduced. Before 1990, 2 letter, 4 number plates were in use, which were allowed to be used up until 1995. There were 5 500 000 vehicles on the road in Hungary, according to the Hungarian Ministry of Technology and Industry. Of the above number, around 4 000 000 vehicles were passenger cars. This was the number of cars using the 3 letters-3 numbers licence plates, writes Index.

What will the new Hungarian licence plates look like?

New Hungarian licence plates from 1 July - MTI/Demecs Zsolt
New licence plates for passenger vehicles – MTI/Demecs Zsolt

The new type of licence plates will begin with two vowels or two consonants of the Latin alphabet. Exceptions include the letter combinations “cs, gy, ly, ny, s, ty, zs,” and accented vowels (á,é,í, etc.). The first two letters are followed by another two letters and three numerical digits.

Hungarian licence plates
New licence plates for taxis – MTI/Demecs Zsolt

A new element on the number plates is the coat of arms of Hungary. Twelve stars representing the EU flag are also present. Environmentally friendly cars will receive a light green plate. Regardless of the arrival of new number plates, the regulations still allow for the authorisation of individually selected or individually produced number plates.

Hungarian licence plates
New plates for electric cars – MTI/Demecs Zsolt

Is changing our old licence plates mandatory?

Official licence plates already in use do not need to be replaced with new plates. The change will therefore not force anyone to make any unnecessary enquiries or to deal with any more paperwork. If you want new number plates for your car instead of the old ones, you can apply for new ones.

The cost of the new type of plates will be the same as before. The cost of issuing the plates will not increase from July.

Hungary among the cheapest holiday spots!

Liberty bridge

With summer at its peak, for many, the holiday season is just around the corner. Going abroad can be a great way to break your daily routine, and unwind, even if just for a short while. However, one great determining factor remains money. Understandably, people will gravitate towards trips that are within their budget. Read our article to find out why Hungary is a great option even for people on a tight budget!

In this uncertain economic climate, it has become even more important for people to look for cheaper holiday destinations, but many people are not willing to give up the experience of being abroad. Fortunately, there are places in Europe that not only offer great services and fabulous scenery but are also very affordable. Hungary is one of such places, writes Femina.

Hungary is among cheapest European countries

Every year, UK based The Post Office publishes Holiday Money, where they list holiday locations from cheapest to most expensive. In their list, they compare 36 different destinations, ranking them based on certain criteria. The ranking looks at where the best value for money is to be found, i.e. how much you have to pay for certain products in a particular place. To do this, they looked at eight things that holidaymakers often consume or use: 

  • a cup of coffee,
  • a bottle of beer,
  • a can of coke,
  • a glass of wine,
  • a bottle of water,
  • sunscreen,
  • insect repellent,
  • and a three-course meal for two.

On a global scale, Hungary manages to come in at 15th place. Looking at just the EU rankings, we are in the top ten, sitting at 9th place. For the above-mentioned services and products, one would have to pay EUR 83 (HUF 33 000). Unsurprisingly, the most expensive of the items is the three-course-meal, coming in at a whopping EUR 60 (HUF 24 000).

Why should you visit Hungary for your next holiday?

From its cosmopolitan capital city to its charming countryside, there are plenty of reasons to visit Hungary. The Central European country offers something for everyone, from mouth-watering food to traditional folk culture.

The capital of Hungary, Budapest, holds a lot of the charm of the country. Do not let that deter you from exploring the many wonderful cities besides Budapest, such as Győr, Szeged, and Tihany, among others. From tasting local cuisine and marvelling at the awe-inspiring architecture or countryside, to bathing in one of our thermal baths, Hungary will surely leave you with the most pleasant memories.

Hungarian forint: one of the world’s weakest currency

forint euro bills

With all the ups and (mostly) downs recently, the Hungarian forint has become one of the weakest currencies not only in the region – in Central and Eastern Europe – but in the whole world.

Second weakest currency in the world

In a year, only the Turkish lira and the Argentine peso have fallen more. On top of that, in the last three months, apart from the Chilean currency, the forint has been the weakest in the whole world, Portfolio.hu reports.

Since the beginning of the year, the forint has weakened by almost 7.5 percent against the euro. This cannot be explained merely with the difficult global economic environment, a war in our neighbourhood and high inflation. These are problems that affect our regional competitors in the same way, Portfolio.hu writes.

At the beginning of March, the record low level of the forint could be blamed on the war, but since then something else has been the problem. In three months, the forint has weakened by 8.4 percent against the euro, while the Polish zloty has depreciated only by 1.1 percent and the Czech koruna by 1.2 percent.

Events that affect the Hungarian currency

Until early May, the forint moved broadly in line with the Polish zloty, and that was when the split began. If we take a look at the events of the last two months, we might find the reasons why the Hungarian currency has been plunging. Portfolio.hu has gathered these events:

– In April, the European Commission launched a rule of law procedure against Hungary, and no agreement has been reached on the disbursement of EU funds.

– The market was not fully satisfied with the government’s fiscal adjustment package, which is partly based on special taxes that send a negative message to the business environment.

– The deteriorating fundamentals of the Hungarian economy are becoming increasingly apparent, especially the external imbalance, with the balance of payments and external trade balances both turning strongly negative.

– The dollar has strengthened: the US currency has gained 7% against the euro in three months. And the forint follows the dollar’s movements in the opposite direction, meaning that when the US currency strengthens, the forint usually weakens.

The bad news is that these negative effects are not yet abating, and there is no sign of them improving.

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Tips to make air travel from Hungary easier!

Budapest Airport departing passengers tax

European air transport is reaching the tipping point. With strikes in many countries, delays and cancellations, our holiday abroad could go up in smoke. Even in this unfortunate situation, there are solutions. Continue reading our article to know more about easier air travel in Hungary.

Forbes Hungary commented on the issue, stating that the chaos was due to the lack of workforce. It is clear that due to the pandemic, airlines and airports had to lay off many of their staff. This is contrasted with the happenings of today. Since spring, there has been an unexpectedly high number of passengers travelling around the continent. This number is only expected to grow higher day by day. Airlines and airports are now clambering to restaff their services, with little to no avail. These staff shortages are happening at crucial times.

Situation in Hungary

At Ferihegy, everything is under control so far. Staff is at the ready, and there have been no disruptions on the departure side. Security checks are speedy with very short waiting times. In Debrecen and Hévíz, there is also staff on duty when a flight is departing.

Tips on making air travel easier

Even though Hungary is managing in these harsh times, we must take precautions. While the following points are not foolproof, they might make your next flight a little easier. 

  • Arrive two hours before departure, do not expect to board your plane late.
  • You may purchase a ticket for the next flight (for a fixed price of EUR 80-100) in case you missed yours due to long waits.
  • Book your flight early in the day in case of extra long waits.
  • Look for alternative departure locations if you are travelling back to Hungary.
  • If your flight is cancelled 14 days before your departure, you may transfer your flight or ask for a refund
  • If your flight is cancelled within 14 of departure, you may ask for compensation of EUR 250 (only if the cancellation is due to the fault of the airline).

How are airlines managing?

Needless to say, all European airlines are struggling as of now. However, three airlines have cancelled most flights in the past week. HVG reports that Lufthansa is cancelling almost two thousand of their flights. The cancelled flights are mainly between Munich and Frankfurt. Following the German airline are Swiss EasyJet and British Airways in severity.

In Hungary, Ryanair and Wizz Air are holding up steadily, with little to no cancellations due to staff shortages. 

Food prices rising fastest in Hungary?

There is good reason to believe that bread will soon become a luxury item in the country: we have seen the biggest increase in the price of bread in the past year. Hungary shows the highest price increases for several food products.

A survey about the prices of foodstuffs

The prices of seven basic foodstuffs were compared in Privátbankár.hu’s Árkosár (Price Basket) survey based on Eurostat data. It was found that the price of bread, for example, had already risen by more than 12 percent in Hungary last November.

And in May, we reached the point where, in a year, we have to pay 38.4 percent more for the same bread in Hungary than last year. Looking at prices in neighbouring countries, the highest price changes were recorded in Bulgaria and Hungary, where prices rose by almost 40 percent.

As Blikk.hu writes, such a price rise cannot be explained solely by the Russian-Ukrainian war. However, it is not surprising if we consider the fact that it was already known in January that the mills had raised the price of flour by 10-15 percent, which meant that the price of bread was bound to rise.

Egg, cheese, butter

Egg prices have also increased significantly. Eurostat, based on data from the Central Statistical Office (KSH), has forecast an increase of almost 30 percent for May, with the only countries in the region with higher prices than Hungary being the Czech Republic and Bulgaria.

For cheese and cottage cheese, only the Bulgarians are ahead of us, with a price change of 35.4 percent, one of the highest price rises in Europe for months, with only Lithuania showing a slight increase. The price of butter is something to be somewhat proud of: the 31.1 percent increase is at least not the highest in the region.

Meat

For pork, the increase in May was above 13 percent, but this is also a figure for the surrounding countries, with Hungary having the lowest increase in pork prices, in which the government price freeze on pork legs may have played a role.

Poultry in domestic stores was 34.2 percent more expensive. This figure is also the second highest after Bulgaria, even though the price of chicken tail, chicken breast and some chicken giblets in Hungary is also currently fixed under the price freeze from 1 February 2022.

In its article, mfor.hu underscores that according to Eurostat data, even the smallest price increase in the region is above 10 percent. However, in many neighbouring countries, prices are significantly lower, so the assumption that the price explosion is due to the war in the neighbouring country is not true. For example, in Romania, also a neighbour of Ukraine, most of the products surveyed have risen by the smallest – or almost the smallest – amount.

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Hungarian ruling parties want to dissolve the European Parliament?

European Union European Parliament eu presidency

According to the Fidesz-KDNP coalition, the European Parliament in its current form should be abolished. On Tuesday evening at 9.15 pm, four members of the Hungarian Parliament from the governing party, László Kövér (Fidesz), the Speaker of the Hungarian Parliament, Zsolt Semjén (KDNP), deputy prime minister, István Simicskó, leader of the KDNP parliamentary group and Máté Kocsis, leader of the Fidesz parliamentary group presented a grand European vision to the Hungarian Parliament.

In this draft resolution, they describe what they think the government should achieve in the debate on the reorganisation of the European Union, 444.hu reports.

The proposals

According to the news portal, one of the most interesting proposals is to abolish the European Parliament in its current form. Instead, it is suggested that national parliaments should delegate representatives instead of directly elected MEPs.

In addition, the four politicians would give all national parliaments the right to veto EU legislation, and give them and national governments the right to initiate new EU laws.

Among the proposals is that the EU should never be allowed to take a loan again; the huge RRF aid package is the only major EU loan scheme so far, but Hungary is the only member state that cannot access the money it is owed because of excessive corruption risks.

Christian foundations and protection of minorities

According to the proposal of the four Hungarian politicians, a new treaty would state that the EU is based on Christian foundations, but would remove the “ever closer union” clause from the current text.

They also see the protection of indigenous minorities as a common task, but would not give the Brussels institutions any say in immigration matters. They would quickly admit Balkan countries applying to join the EU.

No legal relevance of the draft resolution

The debate on the restructuring of the Union will be on the agenda of the European Council for the first time on Thursday. There, Viktor Orbán will have the opportunity to represent the principles, although Hungarian MEPs will not be able to vote on the resolution in Parliament until then. 444.hu underscores that the political declaration is a call for the government to adopt a position, but it has no legal relevance.

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Hungarian Foreign Minister: Hungary considers Israel ally

szijjártó in israel

Hungary considers Israel its ally and will “do everything to ensure that our friends at last receive a fair treatment in international organisations”, Foreign Minister Péter Szijjártó said on Facebook early on Thursday, after talks by phone with Yair Lapid, his Israeli counterpart, who is expected to become Israel’s next prime minister.

“A closer cooperation between the EU and Israel would be good,” Szijjártó said, adding that the Hungarian government would urge convening the EU’s association council as early as possible.

Hungary is a committed supporter of endeavours for peace and the fight against terrorism, Szijjártó said.

“We are proud that the Hungarian Jewish community is safe and the country has zero tolerance for anti-Semitism,” the minister added.

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ChristDems: Hungary stands for EU candidacy of Georgia and Bosnia-Herzegovina

libe eu flag european union

Lőrinc Nacsa, a lawmaker of the co-ruling Christian Democrats (KDNP), said on Wednesday that Hungary will stand up for the European Union candidacy of Georgia and Bosnia-Herzegovina, besides Ukraine and Moldova.

Earlier this month, the European Commission proposed EU membership candidacy for Ukraine and Moldova. The status is expected to be confirmed by the EU heads of state and government at the summit starting on Thursday.

Speaking to MTI on the sidelines of a summer session of the Council of Europe’s Parliamentary Assembly (PACE) in Strasbourg, Nacsa said the integration of Georgia and Bosnia-Herzegovina “must not be considered separately from that of Ukraine and Moldova”, arguing that it would weaken the EU not to support those two countries.

In crisis situations, the EU would do well to grasp the opportunity to grant candidate status to countries that have worked a lot to achieve that goal over the past years, Nacsa said. “We reject any measures of the European Commission seeking to create a division between those countries,” he said.

He said the EU’s decision to change the criteria for integration from country to country was discriminatory.

Meanwhile, Barna Zsigmond, a lawmaker of ruling Fidesz, told MTI that “Brussels has been unable to properly tackle either the [pandemic-related] health-care and the migration crisis or the issue of enlargement”.

“Giving full attention to Ukraine and Moldova while ignoring Georgia and Bosnia-Herzegovina is tantamount to betrayal,” he said. Zsigmond said it was “a strategic and geopolitical mistake” to deny granting candidate status to Bosnia and Herzegovina and to “drag its feet” on Serbia’s integration process.

“It is in the interest of Europe to have as many countries as possible join the European Union,” he said.

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Russian gas supplies will be cut off for a week in Hungary

Oil and gas pipe Russian oil

As the Turkish Stream pipeline is being maintained, from 21 June, gas supplies will be cut off for a week. Russian gas is sent through that pipeline, therefore, Hungary is seriously affected by this decision. 

The importance of the Turkish Stream

Turkish Stream is one of the most important routes for Russian gas to Europe. The pipeline has a capacity of 31.5 billion cubic meters per year, half of which runs to the Turks and the other half to the Balkans and Eastern Europe. – reports g7.hu. A significant part of Russia’s gas imports have arrived in this way to Hungary, too. Last September, the two countries agreed to replace most of the former Ukrainian transit with this route. At that time, there was even a conflict about this between Ukraine and Hungary.

How much gas will Hungary lose?

Serbia is also affected due to the maintenance of the pipeline. As the gas transported by pipeline under the Black Sea crosses the Serbian-Hungarian border at Kiskundorozsma, Hungary also falls victim to the decision. More than a third of all the gas supply to Hungary has come from Serbia. – writes 24.hu. Therefore, this is the amount that will be lost for a week.

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Is it possible to replace the imports?

There may be a way to replace imports from the south. If there is enough gas on the market, Ukraine, Slovakia, Romania and Croatia could provide solutions. In addition, it is also possible that transit through Ukraine will get back on track. Since the outbreak of the war, imports stopped completely from that direction. However, some gas has been found again in Beregdaróc.

Not only Hungary is affected

This issue with the Turkish Stream does not only have consequences in Hungary but in entire Europe. With roughly one-eighth of all European imports coming from this direction, the Turkish Stream is also an important route for other European countries. The timing is also really unfortunate because the North Stream has just collapsed, too. The pipeline transporting gas to Germany under the Baltic Sea has received just over a third more gas in recent days than previously used to. In this case, Gazprom even blamed Germany for what happened. According to the Russian company, the reduction in circulation was necessary because the maintenance work carried out by German Siemens was late. However, Germans deny this argument.

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Budapest is among Europe’s cheapest cities in 2022!

basilica hungary budapest

The Price of Travel platform has selected the 10 cheapest cities of 2022, and Budapest made the “Europe Backpacker Index” list. Budapest is not only cheap, but also a great place to discover. Read our article and find out why Hungary’s capital is worth paying a visit to.

According to the Backpacker Index, Budapest is the second cheapest city this year. The first place belongs to Bukarest, capital of Romania, and the Bulgarian city, Sofia takes the third place.

Budapest is the 2nd cheapest city

Although Budapest is on the list of the cheapest cities, that does not automatically mean that it is a low-quality city. Regarding the capital of Romania, the portal says the old town is “undoubtedly charming” but the rest of the city is not very attractive to tourists.

On the other hand, Budapest is a world-class tourist city that just also happens to be unusually cheap.

While the city centre can be expensive, just a little further, rather cheap hotels and hostels await guests. In addition, beautiful castles, cathedrals and thermal spas are available for a good price.

The Daily Backpacker Index of Budapest is HUF 10,761 = USD 28.25 = EUR 26.91/day.

Here are some useful information about Budapest:

  • Currency: Hungary Forint
  • Best cheap hostel: Avenue Hostel – HUF 3,177 = EUR 7.95/night
  • Transportation: HUF 350-1500-1650-4150 = EUR 0.88-3.75-4.13-10.35
  • Accoring to thesavvybackpacker.com, it costs around USD 25-50 = EUR 23.8-47.64/day to comfortably visit Budapest.

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Tourist season in Budapest

According to Csaba Baldauf from the Hungarian Hotel & Restaurant Association, a good season is expected. Budapest is preparing for crowded hotels where a total of up to 75 percent occupancy is offered by an internationally outstanding value for money. – reports index.hu

Tourist attractions also generate interest, and Budapest is full of possibilites when it comes to famous buildings, historic sights or inexpensive entertaiment.

Városliget

For example, taking a walk in the beautiful parks such as Városliget is free. The newly opened Zene Háza (House of Music) or the Millenium Háza (House of Millennium) can be found there. One can admire the statues on Heroes’ Square or take photos of the majestic Vajdahunyad Castle, too.

Városliget Budapest
Városliget, Budapest. Photo: Facebook, Városligeti Műjégpálya és Csónakázótó

Heroes' Square
Heroes’ Square, Budapest. Photo: pixabay.com

The castle district

Just like Városliget, the castle district is also free for everybody. Of course, having a coffee would not be that cheap, but the view from the Buda castle is free – and still, it is priceless.

The most visited square is Szentháromság tér, where one of the characteristic buildings of Budapest, the more than seven hundred-year-old Matthias Church stands.

Buda castle
Buda Castle. Photo: Facebook, Budai vár

Thermal baths

Although the thermal baths and spas are not free, they are still considered to be quite cheap in Europe.

The Gellért thermal bath‘s daily ticket costs 7100 HUF = 17,76 EUR, Rudas thermal bath can be visited for 6500 HUF = 16,26 EUR, and Palatinus bath on Margaret Island costs only 3600 HUF = 9 EUR.

Gellért thermal bath
Gellért thermal bath, Budapest. Photo: Facebook, Szt. Gellért Gyógyfürdő

Rudas thermal bath
Rudas thermal bath, Budapest. Photo: Facebook, Rudas Gyógyfürdő

Palatinus bath
Palatinus bath, Margaret Island. Photo: Facebook, Palatinus Gyógy-, Strand – és Hullámfürdő Hivatalos

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Ryanair CEO: the Hungarian departure tax is stupid and a robbery

ryanair ceo Michael O’Leary

The CEO of Irish airline Ryanair strongly condemns the departure tax imposed by the Hungarian government on airlines.

Ryanair has condemned the Hungarian departure tax on airlines. In a recent, strongly-worded statement, they called on Minister of Economic Development Márton Nagy to explain why airlines that are losing money due to the Coronavirus and Ukraine should be hit with an excess profit tax.

The questions

As we can read in the article of Portfolio, according to the statement, the low-cost airline is seeking answers to the following questions from Márton Nagy:

The airlines are being burdened with the new tax to protect Hungarian families, while the sector is suffering record losses due to the Coronavirus pandemic and the Russian-Ukrainian war.

  • Why should Hungarian families and travellers have to pay higher ticket prices when the Hungarian airline industry has been suffering for two years because of Covid and the war in Ukraine?
  • How does the tax on airlines help Hungarian families?

The strong-worded statement

According to the Ryanair statement,

“this special tax is not a departure tax, but a highway robbery by a government that is completely out of touch with reality.

While European governments are cutting taxes on aviation to help traffic recovery, tourism and the job market after the pandemic, Hungary is imposing taxes on loss-making airlines such as Wizz Air and Ryanair, further undermining the competitiveness of Hungarian aviation and tourism, according to Portfolio.

Consumer protection investigation

As hvg.hu writes, Ryanair also mentions the consumer protection investigation that was ordered by the Hungarian government after it was discovered that the aviation company was passing on the extra charge imposed on passengers travelling from Budapest (HUF 3,900 [EUR 9.79] for European routes operated by Ryanair) to those who bought tickets before the tax was announced.

They write they “welcome the consumer protection investigation and call on the Budapest Government Office to extend its investigation to how the Hungarian government can impose a departure tax on a loss-making industry”.

“Perhaps Minister Nagy can explain why this idiotic tax is being imposed on the loss-making airline industry,”

the statement says.

The Ryanair CEO, Michael O’Leary, even offered to send Martin Nagy a book titled “Economics for Beginners” (referring to a series of books).

ryanair ceo Michael O’Leary
Read alsoRyanair CEO: the Hungarian departure tax is stupid and a robbery

Sigificant proportion of Hungarians would introduce euro in Hungary

forint euro bills

According to a recent survey, nearly 70% of the Hungarian population support the introduction of euro in Hungary.

According to a recent survey carried out by Eurobarometer, more than two thirds of those countries’ population that do not yet have the EU currency are in favour of introducing the euro. The survey was carried out at the end of April. Within the framework of which, a total of 7074 telephone interviews were conducted. Based on the results,

Romania (77%) and Hungary (69%) have the highest proportion of people in favour of the changeover to the euro.

Meanwhile, the proportion of Hungarian respondents opposing a unified European currency increased from 26% to 28% between 2021 and 2022.

It is worth noting that the exchange rate of the forint against the euro during the period of the survey was between 370 and 380. Since then there has been a more significant depreciation of the forint – reported by Portfolio.

As the Hungarian news portal Blikk reports, the lowest proportion of people supporting the introduction of a unified European currency are in Sweden (45%), Bulgaria (44%) and the Czech Republic (44%).

As far as preparedness is concerned, Croatians (37%) are the most prepared for the introduction of Euro that will come into effect in January. Meanwhile, citizens in Bulgaria and Hungary (23%) are the least prepared.

60% of respondents think that the introduction of the euro would have a positive impact on Hungary.

The proportion of those who think it would have a negative impact has also increased by 2% since last year (35%).

Nevertheless, the introduction of the euro is not yet expected in Hungary. Although György Matolcsy, governor of the Hungarian National Bank, said last year that Hungary wants to introduce the euro, the Orbán government, due to economic autonomy, does not plan to introduce it in the near future – reported by hvg.

forint euro bills
Read alsoSigificant proportion of Hungarians would introduce euro in Hungary