European Union

Hungarian EU affairs minister: EU Presidency brought about ‘historic decisions’

Notwithstanding “multiple crises, a transitional institutional period of severe political headwinds and institutional obstruction”, Hungary brought about “historic decisions” under its EU presidency, János Bóka, the EU affairs minister, told a press conference on Tuesday.

Hungary’s EU Presidency

He noted the Budapest Declaration aimed at boosting the bloc’s competitiveness following an unanimous decision by EU leaders, the full Schengen membership of Romania and Bulgaria from Jan 1, and the twin summits held in Budapest on Nov 7-8, namely that of the European Political Community and the informal meeting of the European Council, “the biggest diplomatic event in Hungary’s history”.

Fully 39 formal council meetings were held in Brussels and Luxembourg during the presidency, while 14 informal ministerial meetings were held in Budapest, including the first meeting of ministers responsible for demography, Bóka noted.

Also, nine political trialogue agreements were ushered through the European Parliament under Hungary’s presidency, he said, also noting the adoption of a council declaration on the fight against anti-Semitism. Regarding the Budapest Declaration, Bóka said the document set out specific expectations with deadlines, though the Hungarian government was disheartened by early signals regarding its implementation, he added.

The minister also noted the adoption of strategically important policy decisions such as the ministerial declaration on the future of the common agricultural policy and cooperation in justice and home affairs. The presidency, meanwhile, oversaw the institutional transition so that EU institutions and their new leaders could start operating on Dec 1, he said. Hungary was fair mediator, he said, yet it also presided over a strong political presidency that demonstrated the need for change and “the possibility of a real European alternative”.

The current Polish EU Presidency should take these initiatives forward, he said, adding that it did not bode well, however, that Poland was “mixing its bilateral and internal political conflicts” into its presidency. Bóka said the US presidential election and changes in the European Parliament presaged change, which “must be forced through by member states, including Hungary”. He added that 2025 was therefore likely to be a year of conflicts.

Bóka noted that a permanent team for the EU’s common security and defence policy had been set up under the Hungarian presidency. He said the working group had completed preparations for a common European defence industry strategic concept but “could not get over the threshold” in the European Council. He said he trusted the subsequent Polish presidency could complete the task before preparations for the next seven-year budget.

The Polish presidency is not part of negotiations concerning community funding for Hungary, Bóka said, adding that the country had met all preconditions for accessing the funds and “they are being withheld exclusively for putting political pressure [on Hungary].” The Hungarian government will use all legal and political means to ensure that “Hungarians have access to what is owed to them,” he added.

Answering a question about Prime Minister Viktor Orbán’s peace mission, Bóka said the EU’s strategy concerning the war in Ukraine “does not require consensus”, so the Hungarian presidency had had “extremely limited room to come up with initiatives”. “The prime minister, however, felt a moral and political responsibility to do something towards securing a ceasefire and meaningful peace talks,” Bóka said. Orbán exhibited “remarkable political courage” when he embarked on his peace mission, and “the positive results are now obvious,” he said.

The minister said the EU presidency had been handed over to Poland “in the customary, formal manner”. Concerning Hungary’s granting political asylum to former Polish justice minister Marcin Romanowski, Bóka said such a move “should not be a burden on any [foreign] relations… This has been a legal process in which the Hungarian authorities observed all rules”.

He also added that a Hungarian court would deal with the possible implementation of an European warrant Poland has issued against the former minister. Granting political asylum “is not taking a stance whether the applicant is guilty or not guilty”, Bóka said, insisting that the basis for such a decision was “whether procedural concerns have a foundation or not”. In Romanowski’s case those concerns are “obviously not unfounded”, he said. “This case should not affect the activities of the Polish presidency”.

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Fidesz MEPs demand action from Brussels against gas market speculations

An MEP of ruling Fidesz said on Tuesday that clear action was needed by Brussels against high energy prices and gas market speculation.

Fidesz MEPs call on EC for action against gas market speculation

András Gyürk said he had submitted written questions to the European Commission on behalf of the Fidesz group, adding that the EC had done nothing when gas transits through Ukraine were stopped at the beginning of the year.

He said that before starting its term, the EC led by Ursula von der Leyen had promised to reduce energy prices, yet in the past three months European gas prices have increased by around 20 percent. He added that despite the promises from Brussels, the market price of natural gas had increased by one-fifth since November.

“The bureaucrats watched idly as 15 billion cubic metres of natural gas was lost from the European market after the Ukraine gas transits stopped,” he said. “They also failed to act against the gas market speculation that resulted in increased prices when gas storage facilities were filled in the summer,” he added. “This is incomprehensible and it is the reason why we have turned to the European Commission with written questions,” he said.

“We expect concrete practical steps to be planned by the European Commission against speculation that makes summer gas acquisitions expensive,” he said. “Additionally, we expect information from Brussels concerning whether they plan to offer financial and technical support to East European countries affected negatively by the stoppage of Ukraine gas transits,” he added. Reducing energy prices is crucial to ensuring economic competitiveness and the welfare of citizens, Gyürk said.

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Hungarian government commissioner: Hungary outperformed in EU presidency tasks

Hungary outperformed when it came seeing to its EU presidency duties in the second half of last year, Zoltán Kovács, the government commissioner in charge of preparations and operative implementation of the programme, told a press conference on Tuesday.

Hungary’s EU presidency

All those who contributed to the organisation, implementation, logistics, security and communications did a “professional and world-class job”, and “deserve praise for the political results and content”, Kovács said, adding all tasks had been completed “without undue strain”, even when the workload was heavy. According to Kovács, 173 events were held as opposed to 177 planned, while 240, including fringe events, were held overall. Hungary’s presidency’s also hosted two major summits, he added.

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One of Hungary’s richest businessmen faces justice for budget fraud

dániel jellinek indotek group Hungary's richest

Dániel Jellinek, one of Hungary’s richest businessmen, faces serious fines and public scrutiny after pleading guilty to budget fraud.

One of Hungary’s richest businessmen convicted

As 444 reports, on 14 January, Dániel Jellinek, one of Hungary’s richest businessmen, was convicted of budget fraud by the Metropolitan Court of Budapest after pleading guilty. Jellinek, along with a criminal organisation led by Zsolt F. Nagymester, orchestrated a scheme where companies linked to them accepted fraudulent invoices with false content. This marks Jellinek’s second offence, as he was previously convicted in a separate case involving EU tender fraud. In this latest case, Jellinek has already paid HUF 100 million (EUR 242,585) for damages and faces an additional fine of HUF 250 million (EUR 606,464).

dániel jellinek indotek group Hungary's richest
Dániel Jellinek, owner of Indotek Group. Photo: Indotek.hu

Shielding his father and colleague

Dániel Jellinek, one of Hungary’s richest businessmen, has taken full responsibility for a budget fraud case that initially implicated his 74-year-old father and a colleague. The allegations, revealed by 24.hu, involved fraudulent activities at Mall Management Ltd. and In-Management Ltd., with charges including budget fraud causing significant financial loss and the use of forged documents.

Jellinek, whose fortune is estimated at nearly HUF 300 billion (EUR 728 million), admitted to the crimes to shield his father and colleague. He stated that the anomalies had been identified and rectified through an internal audit before authorities were involved, ensuring no damage to the state budget. Following the court’s ruling and the payment of a fine, Jellinek expressed his commitment to moving forward and considered the case resolved.

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Hungarian government: Hungarian EU presidency ‘brought common sense to Brussels’

The Hungarian European Union presidency brought common sense to Brussels, a government official for EU affairs said on Monday.

Hungarian EU presidency evaluated

While Europe is still under migration pressure, the problems can at last be addressed thanks to the Hungarian EU presidency, Barna Pál Zsigmond, parliamentary state secretary for EU affairs, told a press conference on the topic of illegal migration. He said Hungary’s programme had given “real answers to real problems”, adding that Hungary’s was the “most successful EU presidency ever”.

The official also noted Hungary’s efforts towards boosting the bloc’s competitiveness, strengthening its defence industry, promoting enlargement and a farmer-focused agricultural policy. But combatting irregular migration and protecting the external borders was its top priority, he added. The state secretary said Hungary had always taken a common-sense and prudent stance on the issue of migration.

He said the EU’s migration pact was a “flawed legal document” that insisted on “quotas and migrant ghettos”. Instead of stopping illegal migration the policies encouraged it, he insisted. With the recent terrorist attacks, illegal migration was increasingly seen as a security risk, he said, arguing that effective action included protecting the external borders, operating an expulsion system and combatting human smugglers. All this was possible with a “right-wing turn in Brussels and member states”, he added. Hungary, he declared, would not turn into “an immigration country”, and 2025 would herald change in this respect.

György Bakondi, the prime minister’s chief advisor on domestic security, said that the situation in 2024 had remained unchanged in terms of where migrants were coming from and activity of human smugglers, adding that Soros NGOs continued to finance migration. He also referred to “no-go zones”, severe terrorist acts and widespread violence against women. The left-liberal media, he said, paid scant attention to this.

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Hungary’s minimum wage among the lowest in the EU – See how it measures up against its neighbours

HUF 10000 Hungarian banknote forint economy

The issue of minimum wages is a recurring topic in the European Union, as significant disparities exist between member states. At the beginning of 2025, Hungary’s minimum wage stood at HUF 288,087 (EUR 699), making it one of the lowest among EU countries. 

The Hungarian minimum wage is only higher than Bulgaria’s, where the legal minimum wage is HUF 227,763 (EUR 551). However, several neighbouring countries are ahead: for example, Romania’s minimum wage is higher at HUF 334,530 (EUR 810), Slovakia’s at HUF 337,608 (EUR 816), and the Czech Republic’s at HUF 341,538 (EUR 826).

forint euro money average wage
Source: depositphotos.com

The EU’s three groups based on minimum wages

According to HR Portál, EU countries can be divided into three main groups based on their minimum wage levels:

  1. Western European countries: These have minimum wages ranging from HUF 743,400 (EUR 1,800) to HUF 1,113,100 (EUR 2,700). This group includes Luxembourg, Germany, the Netherlands, Belgium, Ireland and France. These nations are not only among the wealthiest in the EU, but their practice of adjusting minimum wages is closely tied to inflation and economic growth.
  2. Countries with medium minimum wages: Here, wages range from HUF 392,350 (EUR 950) to HUF 578,200 (EUR 1,400). Examples include Spain, Slovenia, Cyprus, and Poland, which have achieved notable economic progress in recent decades.
  3. Countries with low minimum wages: In this category, wages fall below HUF 371,700 (EUR 900). Alongside Hungary, this group includes Bulgaria, Romania, Slovakia, Latvia, and the Czech Republic. Although these nations are among the EU’s less developed regions, the dynamic growth in Romania and Slovakia indicates potential for improvement.

Hungary and the region

Hungary’s situation is particularly striking when compared to its Central and Eastern European neighbours. By early 2025, Slovakia’s minimum wage had reached HUF 337,608 (EUR 816) and Romania’s was HUF 334,530 (EUR 810), while Hungary’s remained significantly lower. The Czech and Polish minimum wages were even higher, at HUF 341,538 (EUR 826) and HUF 453,054 (EUR 1,098), respectively.

euro exchange rate
Photo: depositphotos.com

According to Portfolio, this disparity reflects not only the economic development of the country but also its GDP per capita and overall wage levels. While Hungary achieves 76.7% of the EU average in terms of purchasing power parity, the Czech Republic and Slovenia exceed 90%. This suggests that Hungary’s economy faces structural challenges that hinder faster wage growth.

The issue of Hungary’s minimum wage is further compounded by internal inequalities. For instance, while the average net income in Budapest was nearly HUF 500,000 (EUR 1,200) in 2023, the average in smaller towns barely exceeded HUF 296,000 (EUR 715), as reported byHaszon.hu. This income gap exacerbates the economic divide between regions within the country.

The future of the Hungarian minimum wage

Raising the minimum wage and enhancing regional competitiveness are crucial for Hungary. Although slower economic growth and high inflation present challenges to rapid change, the examples of neighbouring countries demonstrate that catching up is possible with appropriate economic policies. However, beyond raising the minimum wage, Hungary must restructure its economy, improve investment efficiency, and address inequalities to ensure sustainable growth.

Overall, Hungary’s minimum wage remains among the lowest in the EU, surpassed only by Bulgaria’s. Regional competitors such as Romania, Slovakia, and the Czech Republic are already ahead, highlighting the need for substantial reform in Hungary’s economic structure and wage policies. The low minimum wage not only impacts living standards but also poses a long-term challenge to the country’s competitiveness.

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Featured image: depositphotos.com

Will the long-awaited adoption of the euro in Hungary remain a dream?

euro in Hungary forint

Despite committing to adopt the euro upon joining the EU, Hungary continues to struggle with meeting the eurozone’s stringent criteria. With challenges ranging from budget deficits and public debt to inflation and rising interest rates, the euro in Hungary remains a distant dream, overshadowed by the enduring forint.

Struggling to meet eurozone criteria

As Pénzcentrum writes, Hungary committed to adopting the euro upon joining the European Union but has struggled to meet key eurozone entry criteria. The Institute of Economic Research recently assessed Hungary’s progress, highlighting mixed results. From 2004 to 2011, Hungary’s budget deficit consistently exceeded the 3% of GDP requirement, though fiscal discipline between 2012 and 2019 allowed compliance. However, the COVID-19 pandemic reversed this trend, with deficits exceeding the threshold until 2023, stabilising around 5% by 2024.

Public debt, another critical metric, remained far above the 60% of GDP guideline until 2012, despite a temporary improvement driven by pension fund nationalisation. While low interest rates aided a gradual decline in the debt ratio pre-pandemic, the crisis caused a sharp increase, leaving public debt levels stagnant since 2017. Meeting these benchmarks remains a significant challenge for the euro in Hungary.

Inflation makes matters worse

Inflation has also posed challenges to Hungary’s adoption of the euro. Before 2012, domestic price growth consistently exceeded the eurozone’s price stability criterion. Between 2014 and 2016, Hungary managed to align with the standard, aided by artificially suppressed utility costs. However, after 2016, while inflation remained close to the Hungarian National Bank’s 3% target, low euro area price growth made meeting the criterion difficult. Following a period of record-high inflation in Europe, which began to ease in 2022-2023, Hungary’s inflation stabilised near the reference value by late 2024, marking progress towards meeting this key requirement for introducing the euro in Hungary.

euro in Hungary forint
Photo: depositphotos.com

Euro in Hungary remains a distant dream

Hungary’s long-term interest rates have also fallen short of the Maastricht criteria for adopting the euro. While domestic rates consistently exceeded the allowed margin until 2012, the period between 2014 and 2020 saw compliance, thanks to favourable lending conditions. However, rising global and domestic rates since then have placed Hungary outside the threshold. By 2024, high interest rates and persistent budget deficits have moved the country further from euro adoption. Despite past opportunities, such as joining the ERM II in 2014, current economic policies suggest the forint will remain Hungary’s currency, delaying the potential benefits of the euro in Hungary.

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Photo: depositphotos.com

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Brussels to become battleground for pro-war vs. pro-peace forces, says Fidesz

Hungarians European Union EU presidency

Since the “pro-war, pro-immigration and pro-gender forces have lost Washington”, Brussels will become the main battleground between them and “the pro-peace forces of the future” once Donald Trump takes office, the communications director of the ruling Fidesz-Christian Democrats said on Sunday.

Ever since US President-elect Donald Trump has indicated that he wants to bring an end to the Russia-Ukraine war, the “pro-war Democrats” in the US and “pro-war” politicians in Brussels “have been doing everything they can” to deepen and expand the war in order to make the next US president’s job more difficult, Tamas Menczer said in an interview with public radio.

He argued that in late last year US President Joe Biden and the Democratic administration had authorised Ukraine’s use of American weapons to strike deep into Russian territory which he saw “as a very serious step towards escalation”.

Menczer said the “pro-war, pro-immigration and pro-gender forces” in Washington and Brussels were and would be part of the past, noting, however, that while this faction was on the way out in the US, “they are still here and in the majority” in Brussels. “So, in Brussels, we are the opposition , we, the Patriots; and we represent rebellion.”

“That is where things will be decided, and no one should be under any illusion: their last bastion is Brussels now that they’ve lost Washington,” he said.

Menczer said the “battle between the forces of the past and the future, meaning the pro-war and pro-peace forces”, would be a “difficult and drawn-out battle”. He added, however, that he was convinced that “the future belongs to the pro-peace side” and the “pro-peace alliance” between Trump and Hungarian Prime Minister Viktor Orbán.

He said that after losing Washington, the “pro-war forces” would concentrate all their strength in Brussels, adding that everything had become urgent for them.

“They’ve urgently given the order to hold early elections in Hungary, and what do you know, this is exactly what [opposition Tisza Party leader] Peter Magyar and [opposition Democratic Coalition leader] Ferenc Gyurcsany want,” he said, underlining that an early general election was not on the cards.

Menczer said the “pro-war forces” were also rushing to deepen the war in Ukraine and “create an irreversible situation”. He said they also wanted to urgently bring Ukraine into the European Union “or at least as close to it as possible”.

The communications director said the pro-war side also urgently wanted to oust Viktor Orbán and his government “because they present an obstacle”.

Meanwhile, Menczer said “every left-wing opinion poll” was “a lie and manipulation”, adding that “everyone knows” that the opposition parties only had a chance of winning a general election together, and they were already cooperating in the Budapest assembly and Brussels.

As regards EU funds for Hungary, he said there was “fake news” being circulated in the matter. Hungary has 12.5 billion euros on its account, he said, adding that Hungary was again among the most effective member states when it came to the draw-down of EU monies in the current funding cycle as well. The Hungarian prime minister, he said, had successfully negotiated these funds, and would fight for the rest of the funds the country is entitled to as well. “We won’t lose anything and we haven’t lost anything,” he said.

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Hungarian passport among the world’s most valuable: here’s why

hungary passport hungarian people leaving at historic high

In recent years, the position of the Hungarian passport has been stable at the top. Last year, for example, Hungary was still in 7th place with the United States and Canada, with 188 visa-free destinations.

The Hungarian passport still ranks highly in international rankings, providing significant benefits to the country’s citizens. According to the Henley Passport Index 2025, Hungary is ranked 8th, tied with the Czech Republic. This means that Hungarian citizens can now travel visa-free to 187 countries, offering unique opportunities for travellers, whether for tourism, business or study. Although Hungary has slipped down one place in the ranking compared to last year, our passports are still among the most valuable documents in the world.

hungarian passport
Hungarian passport. Source: depositphotos.com

The value of the Hungarian passport in the European ranking

In the European Union, and in particular in the Schengen area, Hungary’s passport has a strong position. In the region, Hungarian passport holders can travel almost unhindered, which is a particularly important advantage in terms of economic and cultural relations.

In Henley’s ranking, Hungary competes with countries such as France, Germany and Italy, which are among the leaders. These countries offer visa-free access to more than 190 destinations. Other countries in a similar position to Hungary, such as the Czech Republic, also grant significant freedom of movement to their citizens.

The Henley index not only ranks passports, but also highlights inequalities in global travel freedom. The top countries on the list, like Hungary, offer their citizens almost unlimited opportunities, while countries at the bottom of the list, such as Afghanistan or Syria, offer visa-free travel to only a few destinations. For Hungarian citizens, this global freedom is an advantage in many areas of life, be it for work, study or tourism.

Other rankings

According to Index, in addition to the Henley index, other rankings of passports around the world take different criteria into account. The Arton Capital Passport Index, for example, ranks the passport of the United Arab Emirates at the top, with Hungary in twenty-first place with 177 points. Nomad Capitalist provides an even more comprehensive analysis, taking into account the tax regime, the possibility of dual citizenship, global perception and personal freedom. Hungary is ranked twenty-fourth in this ranking, which remains a commendable achievement.

In order to maintain and further develop the global position of the Hungarian passport, it is important that the country maintains its diplomatic relations and adapts to international travel rules. The geopolitical and economic situation in the world is changing rapidly, which may pose new challenges in the future. However, Hungary’s strong position provides a solid basis to continue to guarantee its citizens a wide range of travel freedoms.

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Shocking Eurostat data shows how property prices skyrocketed in Hungary between 2010 and 2024

Shocking Eurostat data shows how property prices skyrocketed in Hungary between 2010 and 2024 hungary news

Eurostat, the European Union’s official statistics office, shared shocking data about how property prices increased in Hungary under the Orbán cabinets. According to their latest report, rents surged by 108% in Hungary, while property prices more than tripled if we compare the Q3 of 2010 and that of 2024. As a result, Hungary was at the EU’s top concerning housing price increases, which is bad news for Hungarians trying to buy or rent a flat or house.

Property prices skyrocketed in Hungary, just like rents

According to a recent Eurostat report about the changes in house prices and rents in the EU, Hungary is in a devastating position. Property prices more than doubled in Hungary and Estonia rising by 230%, the highest rate in the EU. In the TOP 10 are the two remaining Baltic countries, Lithuania (+181%) and Latvia (+154%) and from the Central and Eastern European region Czechia (+135%), Austria (+114%), and Bulgaria (+110%). In Western and Southern Europe, house prices increased most in Portugal (+113%) and Luxembourg (+103%). Interestingly, the only EU member state where house prices decreased (in general) was Italy (-4%), while the price rise was the lowest in Cyprus, Spain, and Finland.

Shocking Eurostat data shows how property prices skyrocketed in Hungary between 2010 and 2024
Buying an apartment in Budapest’s downtown is almost impossible with average Hungarian wages. Photo: depositphotos.com

Between Q3 2010 and Q3 2024, rents increased in 26 EU countries. The only exception where you had to pay less for renting an apartment between Q3 2010 and 2024 was Greece (-16%). Meanwhile, rent prices increased the most in Estonia (+216%), Lithuania (+183%), Ireland (+109%) and Hungary (+108%).

Property and rent prices in the EU (Copy)
Source: Eurostat

Average increase in the EU was 54.1% and 26%

“House prices and rents in the EU followed a similar behaviour between 2010 and the second quarter of 2011 but have since evolved differently. While rents have increased steadily, house prices have followed a more variable pattern, combining periods of decline followed by rapid increases. Between 2010 and the third quarter of 2024, house prices in the EU increased by 54.1% and rents by 26%”, Eurostat wrote.

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Featured image: depositphotos.com

PM Orbán’s EU group would review “Facebook censorship”

Patriots for Europe Facebook vetting committee

Patriots for Europe MEPs are initiating the setting up of a vetting committee in the European Parliament on “the issue of Facebook censorship”, a ruling Fidesz MEP said on Friday.

Csaba Dömötör said on Facebook that a few days ago, Facebook and Meta leader Mark Zuckerberg had stated with surprising honesty that “Facebook fact-checkers had been censoring certain contents under political pressure”. Dömötör added that among those that Zuckerberg cited as exercising pressure were the outgoing Democrats administration.

“What many have suspected and many have experienced has been proven to be a fact, but the story will not end at this point, and it must not end” he said.

Patriots for Europe Facebook vetting committee
Source: depositphotos.com

It is necessary to identify exactly what content has been censored, who ordered it, and whether it represented an intervention in European countries’ domestic affairs, he added.

“Many people in the European Parliament often cite the freedom of speech and basic values of constitutionality. It will now show how much they take them seriously,” Dömötör said.

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  • PM Orbán and President Trump’s alliance represents the future, the Hungarian government believes

PM Orbán and President Trump’s alliance represents the future, the Hungarian government believes

Trump Orbán

Brussels is the scene of a “battle between the forces of the future and the past”, the communications director of the ruling Fidesz-Christian Democrats (KDNP) said on Facebook on Friday.

“Ten days until the pro-peace Donald Trump is inaugurated. The world is about to change,” Tamás Menczer said. “The pro-war, pro-migration and pro-gender forces have lost Washington.”

At the same time, the same forces are still in a majority in Brussels, “and they will concentrate their forces on keeping Brussels, the last bastion,” he said. “The fight between the pro-war, pro-migration and pro-gender forces of the past and pro-peace, pro-security and pro-family Patriots will be fought in Brussels,” Menczer added.

Trump Orbán
Photo: FB/Orbán

“The Hungarian leftist-liberal opposition from [Democratic Coalition leader] Ferenc Gyurcsány to [Tisza leader] Péter Magyar has lined up behind the forces of the past,” he said.

“Brussels has clearly said what they want: they want the war to continue, they want migrants to be brought in, the gender madness to spread, and Ukraine to swiftly become an EU member. Besides our physical safety, this also puts our economic security at risk,” he said, adding that such goals would also bring about high energy prices and inflation.

“Hungary comes first for us patriots! The alliance of Viktor Orbán and Donald Trump is the future,” Menczer said, adding that the government supported peace, security and families.

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Russian gas supplies through Ukraine to Europe face sudden halt – Unexpected opportunity for Hungary?

russian gas supply, gazprom

The halt of Russian gas supplies through Ukraine has shaken Europe’s energy landscape, but Hungary’s strategic investments in the Turkish Stream pipeline and interconnectors have positioned it as a key transit hub. With its gas system tripling in value, Hungary could capitalise on this shift if it improves its regulatory environment.

Russian gas supplies face sudden halt

Index reports that Russian gas supplies from Ukraine to Europe have come to a sudden halt, dramatically shaking up the region’s energy dynamics. Hungary, in particular, has seen the value of its gas system triple almost overnight, according to a market insider. This shift follows Gazprom’s announcement on 1 January that it can no longer transport gas through Ukraine due to legal and technical constraints, forcing the pipeline to shut down.

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Illustration: depositphotos.com

Ukraine has said it’s willing to reopen the route, but only if the gas isn’t Russian and payments are postponed until the war ends. Meanwhile, Hungary still gets Russian gas through the Turkish Stream pipeline. The disruption has also uncovered long-hidden financial details, with Ukraine losing USD 800 million (EUR 774 million) a year and Russia taking a massive USD 6 billion (approximately EUR 5.8 billion) hit. Amid this geopolitical turmoil, Hungary finds itself in a position to make the most of this unexpected opportunity.

Tension is rising in Slovakia too

The halt in Russian gas supplies through Ukraine has caused economic turmoil across Europe, with Slovakia losing an estimated USD 600 million (EUR 580 million) annually in transit fees and tensions rising over Slovak Prime Minister Robert Fico’s visit to Moscow, which angered Ukrainian nationalists. While Austria and Slovakia feel the brunt of the contract’s termination, Hungary has shifted to the Turkish Stream pipeline. The EU, once supportive of previous agreements, is now hesitant to back extensions, leaving Europe to consider three options: replacing Russian gas with LNG, sourcing Azeri gas via Ukraine, or negotiating a new agreement between the EU, Ukraine, and Russia.

Hungary still relies on Russian gas

The disruption of Russian gas supplies has escalated risks, with Ukraine seizing the Suzda metering station and concerns that pipelines could become military targets. Despite this, Hungary remains reliant on Russian gas, securing 6.7 billion cubic metres this year through a long-term contract signed in 2021. At the St Petersburg Gas Forum, Foreign Minister Péter Szijjártó emphasised the physical necessity of energy supply over ideology and reiterated Hungary’s commitment to diversifying routes while ensuring competitive pricing.

russian gas, gazprom Szijjártó
Photo: depositphotos.com

Hungary’s unexpected opportunity

Hungary’s strategic role in the transport of Russian gas to Europe has grown significantly following the phasing out of Nord Stream pipelines and the shutdown of the Russian-Ukrainian-Slovak transit. The Turkish Stream pipeline, entering the EU via Hungary’s Serbian border, remains the sole route for Russian gas to Europe. Recent investments in interconnectors, including a Hungarian-Slovenian agreement in 2023, have further enhanced Hungary’s gas infrastructure, tripling its value. Market experts suggest Hungary could become a major gas trading hub if it improves regulatory predictability and reduces trader-deterring fees like the surveillance charge of the MEKH (Hungarian Energy & Utilities Regulatory Agency). With its strengthened position, Hungary has the potential to become a regional leader in the gas market.

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Featured image: depositphotos.com

Ukraine’s bold offer to replace Hungary in the EU and NATO

orbán zelenskyy ukraine nato eu

Ukraine has expressed its willingness to take Hungary’s place in the European Union and NATO if Budapest continues to prioritise Russia’s interests over those of its Western allies. The statement, made by Ukraine’s Deputy Minister of Foreign Affairs Andrii Sybiha, has sparked discussions about Hungary’s controversial stance on key geopolitical issues.

Hungary’s Russia-friendly policies under scrutiny

According to Sybiha, Hungary’s policies often reflect a pro-Russian agenda, including hindering the access of U.S. energy resources to European markets, Magyar Hírlap wrote based on lenta.ru. Ukraine has accused the Hungarian government of using politically motivated narratives to justify its actions domestically, especially regarding energy security and EU-Russia relations.

In a separate statement to Jevropejiszka Pravda, Ukraine’s Ministry of Foreign Affairs dismissed Hungary’s claims that Ukraine’s decision to halt Russian gas transit from 2025 would harm European energy security. Instead, they emphasised that energy-related problems in Europe stem from Russia’s long-standing weaponisation of resources to manipulate governments and destabilise markets.

Ukraine positions itself as a reliable EU and NATO candidate

According to Privátbankár, Ukraine reaffirmed its commitment to the EU and NATO, contrasting its stance with Hungary’s. The Ukrainian Foreign Ministry asserted that if Hungary chose to align with Russia or other organisations like the Commonwealth of Independent States (CIS) or the Collective Security Treaty Organisation (CSTO), Ukraine would gladly step in to fill the void.

Highlighting successful diversification efforts by other European countries, Ukraine criticised Hungary for failing to reduce its dependence on Russian energy. They argued that Hungary’s actions hinder broader European energy independence, especially regarding partnerships with the U.S. and Middle Eastern suppliers.

Hungarian response and diplomatic tensions

Hungarian Minister of Foreign Affairs and Trade, Péter Szijjártó, reacted sharply to Ukraine’s assertions. In a Facebook post, he hinted at Hungary’s potential to veto Ukraine’s EU membership bid, signalling that tensions between the two countries are unlikely to ease soon. Ukraine’s bold statements reflect its desire to solidify its position as a dependable Western ally, especially amid ongoing conflicts with Russia. Meanwhile, Hungary’s balancing act between East and West continues to draw criticism, both regionally and globally.

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Hungarian minister Szijjártó criticises Ukraine’s proposal to close energy transit routes as ‘unacceptable’

szijjártó ukraine energy transit route

Péter Szijjártó said in a post on Facebook that Ukraine’s foreign ministry had reacted “rather aggressively” to news reports on Tuesday on rising gas prices resulting from the decision to scrap the transit route leading through Ukraine. Meanwhile, on Wednesday, he added, Ukraine’s parliament had registered on its website a bill aimed at closing oil and gas delivery routes from Russia during a state of war.

“With respect, we must remind our Ukrainian colleagues that there is a reality that exists and that there are rights and obligations,” the minister said. He said the reality was that the admission of new European Union members required the unanimous approval of existing member states. Szijjártó also said that all countries had the sovereign right to decide from what source and via which route they buy and access the energy needed for their operations. He said that no outside entity had a say in this, and no one had the right to force “more expensive and less reliable” energy imports onto another country.

Meanwhile, he said that a country that signs an association agreement with the EU and wants to join the bloc has an obligation to contribute to the community’s energy security by ensuring the necessary delivery routes. That was why, he said, the closing of either natural gas or crude delivery routes was “unacceptable” and went against expectations that have to be met when it comes to EU integration.

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Grim data: Hungary among EU’s lowest in household material welfare

Budapest Hungary people citizen street competitiveness eu

Recent data from Eurostat highlights stark disparities in household material welfare across Europe, with Hungary ranking at the bottom alongside Bulgaria. The study uses Actual Individual Consumption (AIC) per capita, expressed in Purchasing Power Standards (PPS), to measure material well-being. This indicator accounts for all goods and services consumed by households, whether paid for directly or provided by governments and nonprofits.

Hungary’s position in the EU

According to Euronews’ reports, in 2023, Hungary’s AIC per capita was just 70% of the EU average, a figure it shares with Bulgaria, marking the lowest levels among member states. In contrast, Luxembourg led the EU with an AIC per capita of 136%, or 36% above the EU average. Neighbouring countries like Slovakia and Croatia also recorded below-average material welfare, but Hungary’s standing underscores the persistent economic challenges faced by Central and Eastern European nations.

Regional trends and comparisons

While nine EU countries—including Germany, Austria, and the Netherlands—exceeded the EU average for household material welfare, Hungary continues to trail significantly. Notably, countries like Poland (83%), Czechia (81%), and Greece (80%) outperformed Hungary in this measure. Among non-EU countries, Türkiye achieved an AIC per capita of 84% of the EU average, surpassing Hungary and eight other member states. This highlights the growing economic divergence between EU and candidate countries, with Türkiye standing as an exception due to its relatively high material welfare.

Changes over time

Over the last five years, Hungary’s AIC per capita saw slight improvements, climbing from 62% in 2020 to 70% in 2023. This modest growth aligns with trends in other lower-ranking EU nations, such as Bulgaria, but contrasts with declines in wealthier member states like Denmark and Finland.

Insights on material welfare

“A household’s material well-being can be expressed in terms of its access to goods and services”, Eurostat writes. Hungary’s position at the bottom of the EU rankings highlights larger regional disparities in living standards. While Western and Nordic countries consistently report higher material welfare, Central and Eastern European nations, including Hungary, struggle to close the gap. These differences emphasise the challenges in achieving economic parity across the bloc. As Hungary continues to negotiate economic pressures, the AIC per capita data serves as a stark reminder of the ongoing need for targeted policies to improve household material welfare.

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Featured image: depositphotos.com

Orbán cabinet defends utility price cap amid gas price hike, strongly criticises EU and Ukraine

gas energy hungary government

The government is protecting utility price reductions even after the 20 percent rise in gas prices in Europe on the back of Ukraine’s decision cease gas deliveries from Russia, the minister of foreign affairs and trade said on Tuesday.

“By now even the most fanatic Brusselites don’t contest that the European Union’s competitiveness had deteriorated sharply,” Péter Szijjártó said on Facebook. Gas prices, which are now higher in Europe than in most competing countries, are one of the main reasons for this, he added.

“At the same time, European natural gas prices have increased mostly due to measures that deliberately cut the amount of gas delivered, such as sanctions or other political steps to cut out certain resources or the closing of certain delivery routes,” he said. “Europeans are clearly the ones most harmed by those measures.”

Meanwhile, Hungary made an effort to diversify its delivery routes in recent years, Szijjártó said, adding that this ensured the security of energy supplies, “even if we do feel the impact of rising European prices”. Since the decision to scrap the transit route leading through Ukraine to central and eastern Europe in mid-December, the price of gas in European markets has jumped by 20 percent, he added.

“Ukraine’s decision has again put the European economy in a difficult situation, even though the country is a candidate for accession,” he added.

Szijjártó said that since Ukraine’s move had been especially harmful to central Europe, he had discussed the situation with Slovak counterpart Juraj Blanar. “We were in agreement that the EU-Ukraine Association Agreement should be honoured by both parties, and that the pact also has provisions on keeping up energy delivery routes.”

related articleSupport from Brussels: Hungary to expand renewable energy in district heating with €238M investment plan

Szijjártó said that during the debates surrounding the construction of the TurkStream pipeline a few years ago, “we were threatened by our allies, who tried to dissuade us from the investment in a friendly way,” he said. Landlocked Hungary would now be in a tight spot had it not withstood the “friendly” pressure then, Szijjártó said. He said that under the current circumstances, Hungary’s energy supply was secure. At the same time, he said that Ukraine’s decision to turn off the gas taps had led to higher prices, posing yet another challenge to the competitiveness of central Europe and the EU.

“Still, Hungary will continue to protect the achievements of its utility price caps, even in this challenging environment, and we will continue the cooperation with our partners in the region,” he said. As we wrote earlier, breaking the myth, Russian gas costs Hungary more than alternatives.

related article: Solution to problems caused by US sanctions on Gazprombank close, says Hungarian minister

Fidesz: Early election not on the cards

Budapest Sight Parliament Parlament Danube 2

Voters will choose political parties in the usual way, the head of the Fidesz parliamentary group said on Monday, vowing not to cave into demands to bring the general election forward.

An early election has not been held since 1990 and another will not be held in future, Máté Kocsis said on Facebook in reaction to the latest call for the election to be brought forward, this time by Ferenc Gyurcsány, the leader of the opposition Democratic Coalition (DK).

related article: Gyurcsány calls on ruling party lawmakers to support call for early election

He accused Gyurcsány and Tisza Party leader Péter Magyar of being stooges of Brussels. “We know full well where the wind is blowing from,” he wrote. Kocsis said the financiers of foreign people of influence had “given orders to stop Viktor Orbán from governing durably after Donald Trump takes office”, adding that Trump and Orbán opposed war and both would impair the “war policy of Brussels” as well as the implementation of the migration pact. With Trump soon taking office, “it is understandable that … it has become urgent for the Brussels elite to effect the quickest possible change of government in Hungary. This is why they want to dissolve parliament; this is why they are demanding early elections…”

Kocsis accused DK and Tisza of coordinating to bring forward the election and of “actively cooperating in Brussels and … in the Budapest assembly, too”. In the last big election “barely six months ago”, “our community” received more votes than the second, third and fourth place combined, he said, adding that this was ample evidence of the current state of voter sentiment.

The Fidesz politician said Gyurcsány’s Socialist government had presided over “extremely high” personal income taxes and poor salaries for civil servants and teachers, while Fidesz had worked to ensure broad wage increases and a three-year agreement on raising the minimum wage. PIT, meanwhile, “is the lowest in the region”, he added. Whereas Gyurcsány “took away the 13th month pension, we handed it back, and we’re making it permanent,” he wrote. He also accused the DK leader of planning to “tear down the border fence and let migrants in”.

As we wrote earlier, opposition Tisza leader Péter Magyar called for early elections.