Viktor Orbán

BREAKING – Drunken Orbán’s Fidesz MEP hits a woman

Orbán's Fidesz MEP hit a woman

In a shocking turn of events, Balázs Győrffy, a high-profile MEP from Orbán’s Fidesz party and member of the Patriots for Europe, has abruptly resigned after admitting to an outrageous act of violence. In a bombshell Facebook post at 10:24 am, Győrffy confessed to assaulting a woman while heavily intoxicated.

Drunken Fidesz MEP assaults a woman

Mr Győrffy’s late-night brawl has sent shockwaves through the country. In his admission, Győrffy revealed he was involved in a heated altercation that spiralled into physical violence. Astonishingly, he claimed he was so drunk that he could barely recall the incident.

However, he owned up to his appalling behaviour, branding it “unacceptable” and begged for forgiveness from the victim, his family, and his Fidesz party colleagues.

“What I did is unacceptable and I am beyond sorry… I am stepping down from all my roles in public life, including my seat in the European Parliament and as President of the National Chamber of Agriculture,” Győrffy announced. In a final blow, he also declared his exit from Fidesz altogether.

Fidesz MEP Balázs Győrffy
Photo: FB/Balázs Győrffy

Surprisingly, comments on Győrffy’s post remain active, fuelling a frenzy of reactions. Some users have pointed fingers at similar scandals involving opposition figures, while others are hailing Győrffy’s resignation as an “honourable” move, despite the horror of his actions.

But the real drama kicked off when Fidesz swiftly fired back, releasing a heated statement just two minutes after Győrffy’s confession went live.

Fidesz-close influencers ditch Győrffy, slams Péter Magyar

Fidesz’s statement read: “The party has clear principles and values; those who breach them can no longer remain part of our community.” The post continued: “There is no excuse for Győrffy’s conduct. Anyone behaving in such an unacceptable manner must leave immediately. We will not tolerate violence, especially against women.”

Fidesz MEP Balázs Győrffy and the Hungarians' Bread
Balázs Győrffy (l) and the Bread of the Hungarians. Photo: FB/Balázs Győrffy

Leading Fidesz supporters, including Dániel Bohár, Bence Apáti, and Kristóf Trombitás, also criticised Győrffy, but they didn’t stop there. In an explosive twist, they turned their ire towards Péter Magyar and his Tisza Party in a series of attacks, reported index.hu.

This controversy comes in the wake of the bitter campaign before the 9 June European Parliamentary and municipal elections. During the lead-up, Fidesz and its media allies bombarded Péter Magyar with serious allegations of physical and emotional abuse against his ex-wife, Judit Varga, Hungary’s former Justice Minister. Despite his denials, Magyar’s Tisza Party stunned the political establishment by emerging as Hungary’s top opposition force, securing nearly 30% of the vote.

Wild party near Chain Bridge ends in brawl involving drunken former MEP

A raucous night in Budapest, just a stone’s throw from the iconic Chain Bridge, turned ugly when a former Fidesz MEP allegedly sparked a brawl, according to reports from the Hungarian tabloid Blikk. The Central Chief Prosecution Office of Investigation (KNYF) launched an investigation against the former Fidesz MEP for vandalism and aggravated assault.

The former MEP, identified as Győrffy, was reportedly heavily intoxicated when the altercation broke out. According to Blikk, the politician made a rude remark towards a young woman at the party, which prompted a furious reaction from her friends, followed by a physical confrontation, forcing the police to intervene. One of the partying youngsters was left with severe injuries, necessitating the arrival of an ambulance at the chaotic scene.

When approached for comment, the KNYF declined to answer Blikk’s questions regarding the incident.

Read also:

  • Romanian predator brutally battered 20-year-old Hungarian girl to death – read more HERE
  • Former wife and justice minister accuses Péter Magyar of ‘blackmail, terrorising – details in THIS article

Válasz Online: All-time greatest property scam in Hungary involving Orbán cabinet and government-close businessmen unveiled

Sovereignty Protection Research Institute Orbán government

Válasz Online reported a week ago on the greatest property scam in Hungary in the last 35 years. However, learning more details, they said it was the biggest of all time. In a nutshell, the Hungarian government will buy office buildings for HUF 600 billion (EUR 1.52 billion) from government-close businessmen whose companies were the constructors of the buildings before. However, their market value is at least 40% less.

In an international comparison, the overpricing can reach 70%, Válasz Online wrote on 16 August. An approximate estimate of the overpricing is 40%. Who are the winners of the business if not the taxpayers who pay for it?

355,000 sqm of office building for EUR 1.52 billion

According to Válasz Online, the Hungarian government bought office buildings in three Budapest venues. They paid HUF 244 billion (EUR 620 million) for a Bosnyák Square office building complex. The Hungarian taxpayers will pay for another one at the Kopaszi Dam (EUR 650 million). Finally, the Orbán cabinet is paying HUF 100 billion (EUR 250 million) for a third office building at the Ajtósi Dürer sor, close to Budapest’s City Park.

budapest 11th district budapart visual plan property scam
Visual plan of the Kopaszi Dam. Source: Facebook/BudaPart – Kopaszi-gát

All contracts were administered by Judit Pete, a Hungarian lawyer, who took the state assignments, and the law firm of Minister Márton Nagy’s sibling.

The Hungarian government decided about the transactions in secret. There were no public procurements or competition. One of the questions that arise is: what does the Hungarian state need 355 thousand sqm of office buildings for and why it is worth buying instead of renting it? Válasz Online suggests the purchase was in the interest of the Tiborcz-circle (the son-in-law of PM Orbán) instead of the Hungarian taxpayers.

A purchase on which taxpayers lose money

Válasz Online calculated the market value of the office buildings by asking experts and comparing the transaction costs with international examples. The result was devastating.

The overpricing of office buildings is between 40 and 70%, so it is probably the all-time biggest property scam in Hungary. Válasz Online presumes nobody ever earned this much money with only one idea. The essence is that you should convince the state to buy expensive office buildings regardless of whether they need them. Provided the government is headed by your father-in-law, such persuasions become possible.

Moreover, Tiborcz-circle companies constructed the office buildings (businessmen Attila Balázs and István Garancsi and their associates). That revenue complemented their profit.

Former PM Gyurcsány’s DK turns to police

The opposition Democratic Coalition (DK) is filing a police report alleging embezzlement regarding the government’s decision to buy an office building for HUF 600 billion (EUR 1.5 billion), the party’s deputy group leader said in Budapest on Wednesday.

Gergely Arató told an online press conference that it was “outrageous that at a time of a housing crisis, the government is spending on its own housing rather than that of young people and families.” That sum would have been enough to build 15,000 apartments, he said.

Former PM Ferenc Gyurcsány's party DK slams President Sulyok
Photo: FB/Ferenc Gyurcsány

Citing experts, Arató insisted the offices were overpriced “by at least 40 percent”.

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Nobel-laureate Krausz receives Saint Stephen Order

ferenc krausz saint stephen order

President Tamás Sulyok has decorated Ferenc Krausz, Nobel-laureate physicist, with the Hungarian Saint Stephen Order on the occasion of the 20 August national holiday.

ferenc krausz saint stephen order
Photo: MTI/Bruzák Noémi

At the ceremony, held in the presidential Sándor Palace on Tuesday, Sulyok highlighted Krausz’s scientific discoveries concerning the changing energy levels of electrons “opening unlimited horizons” for nuclear research. Krausz’s work “could save lives and renew many principles of physics and mathematics, urging other researchers to revisit accepted theories,” the president added.

Krausz’s success “is a global achievement and will elevate us Hungarians, too,” Sulyok said, adding that Krausz “has stayed Hungarian when abroad, helping Hungarian scientists and feeling responsible for Hungarian science.”

Krausz thanked Prime Minister Viktor Orbán and the Hungarian government for their assistance in building a team “unparalleled in a global comparison” aimed to “lay the foundations for preventive medical care for the future and build much more efficient health care not only in Hungary but worldwide.”

The ceremony was attended by Orbán, former President János Áder, Interior Minister Sándor Pintér, and House Speaker László Kövér.

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Struggling media giant Warner Bros. Discovery: Hungarian group emerges as potential rescuer

film shooting media Warner Bros. Discovery TV2

TV2 Média, a prominent Hungarian broadcaster, has been identified as a potential buyer for Warner Bros. Discovery’s Polish assets, according to industry sources. This development comes as the Hollywood giant faces financial challenges, including declining stock prices and mounting competition from streaming platforms like Netflix and Disney. Warner Bros. Discovery, despite being a major player in the global media industry, is reportedly considering selling off parts of its Polish operations to improve its financial position.

film shooting media Warner Bros. Discovery TV2
TV2 Média has been identified as a potential buyer for Warner Bros. Discovery’s Polish assets, according to industry sources. Illustration. Photo: depositphotos.com

The Financial Times recently highlighted the company’s efforts to avoid breaking up its business, as executives race against time to reverse its sliding fortunes, Economx writes. The assets in question include the TVN Group, which owns one of Poland’s largest commercial television networks. Selling these assets could significantly improve the financial outlook of Warner Bros. Discovery, which also owns CNN and HBO.

Warner Bros. Discovery in struggles

The media conglomerate has been under pressure since its merger with Discovery in 2022, a move that was expected to generate substantial returns but has fallen short of expectations. A key factor in the company’s struggles has been the growing dominance of streaming services, which has led to an 8% decline in revenue from its television segment.

It remains unclear whether Warner Bros. Discovery is only looking to sell its terrestrial channels in Poland, such as TVN, TVN7, TTV, and Metro, or if it is also considering divesting its pay-TV channels and the Player streaming service.

Industry observers are speculating about potential buyers. Jakub Bierzyński, head of the consulting firm OMD Poland, noted that investment funds are unlikely candidates since they typically seek high-growth opportunities, which TVN does not currently represent. Local TV companies are also expected to show little interest in acquiring a competitor, while Polish media tycoon Zygmunt Solorz, one of the country’s wealthiest individuals, might face regulatory hurdles if he attempted to expand his influence in the TV advertising market.

As a result, the most likely buyer is expected to come from abroad. Potential candidates include Greece’s Antenna Group, which operates in Romania, Moldova, and Cyprus, France’s Canal+, and MFE-Mediaforeurope (formerly Mediaset), founded by the late Italian Prime Minister Silvio Berlusconi. Another contender is the Czech PPF Group.

Hungarian TV2 as a potential buyer

However, Polish media has also identified TV2 Média as a serious potential buyer. The Hungarian broadcaster is owned by József Vida, a banker with close ties to Lőrinc Mészáros, Hungary’s second-richest person and a close associate of Prime Minister Viktor Orbán.

This wouldn’t be TV2’s first attempt to enter the Polish market. Earlier this year, the company made a bid for a terrestrial TV frequency under the name PTV, planning to launch a lifestyle and entertainment channel. Although the company registered the name and logo, it ultimately did not receive the broadcasting license.

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Featured image: depositphotos.com

Péter Magyar demands PM Orbán’s immediate return to Hungary from his Adriatic holiday

péter magyar brussels

TISZA party leader, Péter Magyar, expresses anger towards PM Orbán not being in the country when the people need him. He calls on the prime minister to break off his holiday in the Adriatic and order his ministers home from luxury yachts.

What is happening at Dunaferr?

As Portfolio reports, workers at the Dunaújváros Ironworks (Dunaferr) staged a protest this morning over delayed salaries, gathering outside the management building at 7 AM. Liberty Steel Dunaújváros head, Rahul Yenurkar, assured that payments would be made later in the day, though the possibility of instalments has sparked dissatisfaction.

The demonstration concluded peacefully after an hour and a half, but workers have agreed to protest again if payments are not made by 2 PM. This protest follows recent management decisions to reorganise working hours, signalling a downsizing of steel production, which has already impacted the workforce.

Dunaferr steelworks Hungary
Dunaferr. The main gate in Dunaújváros. Photo: Creative Commons CC BY-SA 3.0

Péter Magyar reacts to the situation

Péter Magyar reacted to the situation in a Facebook post and called on the Hungarian Prime Minister. He wrote:

The government has bailed out the Dunaújváros Ironworks by not paying the workers on time. Meanwhile, it also became clear that the government was lying when it promised three weeks ago to resolve the heat crisis in hospitals. Now that another heatwave is here, temperatures in wards and operating theatres are once again above 30 degrees Celsius in many places, seriously endangering the recovery and ultimately the lives of Hungarian patients.

The TISZA Party calls on the Prime Minister to interrupt his holiday in the Adriatic, order his ministers home from luxury yachts and take immediate action to resolve the above and replace the incompetent leaders immediately.

The question arises as to why Viktor Orbán is on holiday on a luxury island in the Adriatic at a time of ‘war’?!

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Orbán family associate develops massive new residential project in Budapest

soroksári road millennium towers investment property budapest

Adnan Polat, a Turkish businessman closely linked to the Orbán family, is set to continue the development of the City Pearl residential complex on Soroksári Road, next to MÜPA (Palace of Arts) in Budapest, with four new phases.

A huge residential project

soroksári road millennium towers investment property budapest
The Millennium Tower III and II office buildings in District IX of Budapest, close to Soroksári Road. Photo: MTVA/Bizományosi: Róka László

Polat’s project company, APD Real Estate Ltd., submitted applications in July for preliminary environmental impact assessments and unified environmental usage permits for the third, fourth, fifth, and sixth phases of the six-phase project on the 4.6-hectare site of the former Közvágóhíd, Népszava writes. These applications were filed with the Pest County Government Office, known for its close ties to the Hungarian government.

The first two phases received permits without prior assessment, under the assertion that they would have no environmental impact. According to the submitted documents, the new concrete structures, the influx of thousands of residents and cars, as well as new restaurants and shops, will similarly have no significant environmental effects.

The new development, bounded by Vágóhíd Street, Soroksári Road, Máriássy Street, and Vaskapu Street, will feature five residential towers, each 12-13 stories high, housing a total of 1,098 apartments. The ground and first floors of the buildings will offer 8,350 square meters of space for restaurants, shops, offices, and a two-story, 1,200-square-meter fitness complex. A two-level underground garage with a capacity for 1,747 cars is also planned. A large square with a “grand amphitheatre,” accessible via green steps and surrounded by shops and restaurants, will be created in front of the partly preserved old water tower.

city pearl residential park
Building of the new office and residential complex called City Pearl in 2022. Photo: MTVA/Bizományosi: Balaton József

The water tower, pavilion building at the entrance, and statues of bulls on either side of the gate will be restored. The water tower will be leased to the municipality for ten years, while the ground floor of the pavilion will house shops, cafes, and restaurants. The facades of the old slaughterhouse buildings will be rebuilt to resemble their original design, albeit using new materials, raising concerns about authenticity.

The environmental impact assessment application, submitted on 3 August, indicates that the green space ratio will be 15% in the new phases, an improvement over the 8.5% in the first two phases. Construction of the third phase is set to begin next spring, with subsequent phases starting in 2027, 2030, and 2031, and the entire project is expected to be completed by February 2034. During construction, an additional 84 trucks per day are anticipated, and once completed, the development is expected to generate nearly 5,000 additional car trips daily, representing a significant increase in local traffic.

Little to no effect on the environment?

The new district will accommodate approximately 4,000 new residents, several hundred employees, and numerous shoppers and visitors to the commercial and dining establishments. However, the documentation claims that the development will have minimal environmental impact.

Traffic-related air pollution is expected to increase slightly but remain below health thresholds in residential areas, and noise levels will not be perceptibly higher. According to the documents, the climate adaptability of the area will not change significantly, despite the installation of numerous split air conditioning units. Since there are currently no plants on the site, the project will not affect natural values.

The authors of the document conclude that the low environmental impacts will exclude any negative health effects, suggesting that obtaining the necessary permits should face no obstacles.

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Fidesz head of communications expects many young people to join their party

Fidesz

Fidesz anticipates that lots of young people will join the ruling party having witnessed Prime Minister Viktor Orbán’s Tusványos speech, Tamás Menczer, the Fidesz head of communications, told public radio on Sunday.

Menczer: Many young people expected to join Fidesz

The Fidesz head of communications said 20-30 year-olds liked to rebel, “and the biggest way to rebel today is to be a patriot”. Also, the left wing was bereft of political skills, he added.

It was easy to see why the left-wing politicians were “screeching” after Orbán’s speech on Saturday “as it is obvious they don’t know how make such a speech”, he said.

orbán tusványos
Photo: Facebook/Orbán Viktor


“We have Viktor Orbán and an exceptionally strong political community. Young people tend to join whoever it is worthwhile joining,” Menczer, Fidesz head of communications said.

Regarding heavy restrictions on the flow of Russian crude via Ukraine, he said that Kyiv’s move undoubtedly amounted to blackmail, and a Ukrainian representative had gone so far as to admit it. He called Ukraine’s move “illegitimate and illegal”, adding that Hungary expects Ukraine to comply with the EU association agreement which states that the energy supply of an EU member state must not be imperilled.

The European Commission is expected to side with Slovakia and Hungary against a non-EU country, he said, and it would be acting in collaboration with Ukraine if it failed to do so.

Menczer alluded to “pro-war collusion”, saying that it was possible that the restrictions may have been suggested to Ukraine by “pro-war Westerners”.

Asked about the government’s plans in response, he said Hungary did not want to “blackmail” Ukraine, “though facts are still facts”.

Meanwhile, regarding the 200 million euro fine the European Court of Justice instructed Hungary to pay for refusing to implement several EU migration rules, he said the authorities had responded by shuttering the transit zones before disallowing asylum applications to be submitted at the embassy in Belgrade.

He said there was a “political motivation in the background” and “Brussels wants to flood Hungary with immigrants.”

“We will protect Hungary and the Hungarian people from immigration, and the fine will not be paid by the Hungarian people,” he declared.

Menczer said the prime minister had clearly told the Austrian and German leaders in 2015 that Hungary could either stop migrants or let them through.

“We will protect Hungary, but if they now want these people to appear in Austria and Germany, we can be partners in that, too. Everyone should take what I say as I say it,” he said.

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Hungarian Speaker of Parliament Kövér calls on Metsola to help ‘prevent undemocratic procedures’ in EP

László Kövér

Speaker of Parliament László Kövér on Monday sent a letter to Roberta Metsola, the newly re-elected President of the European Parliament, congratulating her and asking for her cooperation in “preventing undemocratic procedures in the European Parliament”.

Kövér calls on Metsola to help

Kövér said he agreed with Metsola that parliamentarism needed to be strengthened in Europe, adding that this aim “coincides with the long-standing aspiration of national parliaments to play a greater role in EU decision-making.”

Referring to the Patriots for Europe party group, he said the Hungarian public was “shocked” upon learning that “in violation of the rules of parliamentary democracy and written European law, [the EP] ignored the will of some 18 million European voters and failed to allocate to the third largest political group in the European Parliament any of the vice-presidential or committee office-holder seats that this political group is entitled to according to established practice.”

Kövér said the Hungarian public and MEPs of the ruling Fidesz-Christian Democrat parties “had hoped that, moving beyond the European Parliament’s practices experienced so many times over the past five years, the newly formed European Parliament would value the unity of Europe and break away from the practice of stigmatizing and attempting to exclude those countries, parties, and their MEPs whose opinions and positions, based on democratic mandate, differ on certain issues from the majority view of the European Parliament.”

“Madam President! Since 1990, […] it has been an uninterrupted practice in the Hungarian National Assembly that the parties that have won seats in Parliament by democratic mandate fill parliamentary offices in proportion to their seats. Any politician who has confidence in the democratic values of European popular representation and in the much-vaunted rule of law must ask whether the leadership of the European Parliament considers this exclusionary and divisive situation to be good practice,” Kövér said.

Kövér said “no honest politician with a sincere commitment to democracy” could agree with that “arbitrary procedure”.

Moreover, Kövér said one of the motives behind the “increasingly aggressive attacks” are differing opinions “on the Slavic fratricidal war taking place at the EU’s borders.” He said the EP resolution condemning Prime Minister Viktor Orbán’s peace efforts did not align with “the much-vaunted view of EU politicians that the European Union was created to establish peace.”

Should the “discriminatory tendencies” of the past five years continue or strengthen in the EP, rather than an attempt at “reconciling the positions of the Member States based on divergent national interests”, the EU’s capacity to address growing challenges would be further weakened, Kövér said.

“I kindly request Madam President’s future cooperation in preventing any undemocratic procedures within the European Parliament,” Kövér said in conclusion.

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Not everyone agrees: Opposition slams Orbán’s controversial speech

orbán tusványos

Opposition parties have criticised Prime Minister Viktor Orbán’s speech at the Bálványos Summer University in Baile Tusnad, Romania, saying it had failed to address the problems of Hungarians.

Tisza Party’s criticism

The Respect and Freedom (Tisza) party said the prime minister’s speech had been about “Budapest-centric global politics” rather than the problems of the Hungarian people. The party criticised Orbán for failing to mention the state of the healthcare and education sectors, “the three million people living below the subsistence level and the hundreds of thousands who have fled abroad”.

Democratic Coalition’s criticism

The Democratic Coalition (DK) said Orbán’s politics wasn’t “building, but losing Hungary” and endangered the Hungarian people. “The blabber about a national strategy doesn’t obscure the strategic weakening of Hungary that is a consequence of the PM’s running amok historically and politically,” DK said in a statement.

Socialists’ criticism

The Socialist Party criticised the speech for not mentioning “the government’s misguided economic policy, the one billion euro loan taken from China, high inflation and the high public debt”. The party said it hoped the PM “was not laying the groundwork for pulling Hungary out of the European Union”.

Jobbik’s criticism

Jobbik-Conservatives welcomed the prime minister’s announcement on doubling family tax breaks for children, but said their solution would be to increase the tax break each year by at least the previous year’s inflation rate.

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Diplomatic rift erupts between Poland and Hungary over Orbán’s controversial speech

orbán poland diplomacy

A diplomatic row has flared up between Poland and Hungary following a speech by Hungarian Prime Minister Viktor Orbán at the Tusványos Summer University event in Baile Tusnad, Romania.

orbán poland diplomacy
A diplomatic row has flared up between Poland and Hungary following a controversial speech of Orbán. Photo: Facebook/Viktor Orbán

In his address, Orbán criticized Poland’s geopolitical ambitions, their relationship with the United States, and their efforts to weaken Russia and outpace Germany economically. He labelled Polish policies as “hypocritical,” accusing Poland of conducting business with Russia while morally lecturing others.

Sharp Polish reaction to Orbán’s claims

Polish Deputy Foreign Minister Wladyslaw Teofil Bartoszewski responded sharply, stating to Polish Business Insider that Orbán’s comments were an attack not only on Poland but also on the U.S., the European Union, and NATO. He denied any Polish dealings with Russia and criticised Orbán for positioning himself on the fringe of international society, both within the EU and NATO. Bartoszewski questioned Hungary’s continued membership in NATO, suggesting that Orbán should consider forming a new alliance with Putin and like-minded nations.

In response, Hungarian Foreign Minister Péter Szijjártó defended Orbán, asserting that Poland was hurt by the truth. Szijjártó claimed that Hungary had long tolerated provocations and hypocrisy from the current Polish government in the interest of preserving the Hungarian-Polish brotherhood, but that patience had run out. He pointed out that Poland was also listed among the customers of a major Russian oil company, suggesting that Poland should not be hypocritical or accuse others while engaging in similar practices themselves.

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Viktor Orbán announces doubling of tax benefits for families with children!

family tax benefits Hungary's population families

In a recent Facebook post, Hungarian Prime Minister Viktor Orbán announced that the tax benefits for families with children will be doubled in 2025. The announcement was part of Orbán’s speech at the Tusványos Summer Free University and Student Camp, where he emphasised the need for a strong and flexible Hungarian society. According to Orbán, reversing the country’s demographic decline, which has stagnated despite initial success, requires renewed efforts.

As part of a “peace budget,” the government plans to double the child tax benefits and extend these benefits to Hungarians living abroad, Portfolio reports. Orbán also stressed the importance of preserving the rural village system and maintaining a work-based society, avoiding the creation of megacities.

Who is eligible for family tax benefits?

family tax benefits
Hungarian Prime Minister Viktor Orbán announced that the tax benefits for families with children will be doubled in 2025. Photo: depositphotos.com
  1. Individuals entitled to family allowances.
  2. Parents who share custody of their child based on a court decision, agreement, or joint declaration.
  3. Spouses living in the same household as the family allowance recipient but not entitled to the allowance themselves.
  4. Pregnant women and their spouses living in the same household.
  5. Children entitled to family allowances on their own behalf and individuals receiving disability benefits.
  6. Individuals eligible for family allowances, disability benefits, or similar benefits under the laws of any foreign country, provided they meet other statutory conditions.

Duration of family tax benefits

The family tax benefit can be claimed from the 91st day of pregnancy, requiring a medical certificate. It continues until the child reaches 16 years of age, or longer if the child is enrolled in a full-time educational institution (such as high school or vocational school). The benefit ends when the child graduates from high school. However, if there are younger siblings who are eligible, the older child can still be considered for the benefit, albeit at a reduced rate.

Applicable incomes for family tax benefits

Family tax benefits can be claimed on income that forms part of the consolidated tax base, including:

  • Income from independent activities, such as private businesses, agricultural production, or rental income.
  • Income from dependent activities, such as wages and taxable social security benefits, including child care fees.

This comprehensive increase in family tax benefits is aimed at supporting Hungarian families and encouraging population growth.

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Featured image: depositphotos.com

Orbán: Developments in the US ‘going favourably for us’

Donald Trump Viktor Orbán

Addressing the Bálványos Summer University in Baile Tusnad, Romania, on Saturday, Prime Minister Viktor Orbán said the ongoing changes that would usher in a new global system presented an opportunity rather than a threat, because it meant Hungary had more room for manoeuvre than at any other time in the last 500 years.

Orbán said that 500 years ago Europe had been a winner, while Hungary had been a loser of the previous global paradigm shift, arguing that whereas a new economic space had opened up for the western part of the continent, the Muslim conquests had turned Hungary into a war zone for a long period, which afterwards had been forced to integrate into a German-Habsburg world.

He said developments in the United States “are going favourably for us”, adding, however, that he did not believe that the US could give Hungary “a better economic-political offer” than European Union membership could. “But if they can, we must take it into consideration,” he said.

Orbán said China had given Hungary “the maximum it can offer” and considered Hungary’s EU membership an asset, “unlike the Americans, who always imply that we should leave [the EU].” China’s offer, he said, was that “we should participate in each other’s modernisation”, even if the differences in size should be kept in mind.

The prime minister said the western part of the EU “won’t ever return to the nation-state form”, adding that the bloc’s eastern half could protect nation-states.

He said the EU had “lost the ongoing war” and would be abandoned by the US, adding that Brussels would not be able to finance the war in Ukraine or the country’s operations. This, he said, meant that “the European Union will have to pay the price of the war escapade, which will be high and will affect us unfavourably.”

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Orbán: Europe will be left alone to handle the war if it does not come to its senses

orbán tusványos

Europe will be left alone to handle the war in Ukraine if it does not ditch its pro-war stance, Prime Minister Viktor Orban said in his address at the Balvanyos Summer University in Baile Tusnad, Romania, on Saturday, adding that the “pro-peace position” was “fermenting”.

orbán tusványos
Photo: Facebook/Orbán Viktor

The prime minister said changes in the global system were under way and Asia would be at its centre, so a “Hungarian grand strategy” was both needed and in the pipeline.

Noting his recent meeting with Romanian counterpart Marcel Ciolacu in Bucharest, Orban said: “We are making progress.” Romania is Hungary’s third most important economic partner, with economic and trade relations breaking new records, he added.

He said Hungary’s EU presidency will put the issue of Romania’s accession to Schengen on the agenda in October.

The two leaders also discussed the Bucharest-Budapest high-speed rail link, Orban noted.

The prime minister said that this year the Romanians had not tried to dictate what could be discussed at Tusvanyos. He added that many people in Brussels, however, had condemned Hungary’s peace mission, even though the bloc’s founding treaty stated that “the Union’s aim is to promote peace”.

Orban said: “Time is on the side of the politics of peace.”

Referring to the upcoming US presidential election, he declared: “Trump ante portas.” If Europe did not shift to a “peace policy” by the time of the November election, it would have to do so after Trump’s victory, “admitting defeat” and bearing the political consequences alone, he said.

He said Brussels “doesn’t like it when we call what they do a pro-war policy, because they think they’re supporting the war in the interest of peace.”

He added that since the start of the Hungarian “peace mission”, the US secretary of state had spoken with Russia’s foreign minister, and the Swiss foreign minister had also held talks with him.

Ukrainian President Volodymyr Zelensky, he noted, had called Donald Trump, the former US president and Republican presidential candidate, and the Ukrainian foreign minister had visited Beijing.

“Albeit slowly, we’re moving away from a European pro-war policy in the direction of a pro-peace policy,” Orban said. “In other words, the fermentation has begun.”

If it were up to Ukraine and Russia, there would never be peace, so peace can only come from the outside, Orban said.

Both sides, he added, were taking “brutal” losses, “yet neither wants to reach a settlement”, Orban said, explaining that this was because both Ukraine and Russia believed that they could win and were fuelled by their own “perceived or real truth”.

Orban said the Ukrainians saw the war as a Russian invasion that violated international law and their territorial sovereignty, and that they were defending themselves and fighting a war of independence.

The Russians, on the other hand, believed that there had been “serious NATO military developments in Ukraine”, that the country had been promised NATO membership, and they did not want to see either NATO troops or the alliance’s weapons on the Russia-Ukraine border, he said. Russia therefore believed it had a right to self-defence and that the war had been provoked.

“So everyone has some kind of perceived or real truth, and neither side will give up the war,” the prime minister said.

“This is a straight path to escalation,” he said, stressing that there would be no peace if it were left up to the two warring sides. “Peace can only come from the outside,” Orban said.

Ruthless war provided a vantage point on “true reality”, he said. The true reality, he declared, cast a cold light on “ideologies, statistical manipulations, media distortions and tactical eavesdropping by politicians losing their power, their delusions and conspiracy theories”, which no longer had relevance. “What remains is the dust of brutal reality.”

He said that while in recent years the US had declared China to be its main challenger and opponent, “we’re still seeing that it’s fighting a proxy war against Russia and constantly accusing China of covertly supporting Russia.”

“If that’s true, then it begs the question as to why it’s rational to put two such large countries in the same enemy camp,” he said.

Orban also emphasised Ukraine’s defiance of expectations in terms of its reslilence, which he attributed to Ukraine getting “a flash of the perspective of belonging to the West” instead of being a buffer state.

Meanwhile, the prime minister said Russia “isn’t the firm neo-Stalinist autacracy the Brussels leaders trying to bring it to its knees with sanctions are trying to make it out to be, either”. Rather, he said, it was a country that was showing technical and economic, “and eventually, perhaps, social” flexibility.

Orban said European politics “has collapsed”, arguing that Europe had relinquished the protection of its own interests.

“Europe is currently following the politics of the US Democratic Party unconditionally, even at the cost of self-destruction,” he said, adding that sanctions imposed on Russia were hurting European interests, raising energy prices and making the European economy uncompetitive.

Orban said the European system of powers had so far been based on a “Paris-Berlin axis”, but this no longer existed, or had at least “become irrelevant and evadable” compared with the “new power centre” comprising London, Warsaw, Kyiv and the Baltic and Scandinavian states.

He said the idea of replacing the Paris-Berlin axis was not a new one but rather “an old Polish plan” that involved Poland becoming the continent’s main American base. This, he added, required “calling the Americans in there, between the Germans and the Russians”. But this, he added, could only be made a reality owing to the current war.

“This is an old plan: weaken Russia and surpass Germany,” Orban said, insisting that Poland was pursuing the “most deceitful politics” in Europe, arguing that “they’re obliviously doing business with the Russians while morally lecturing us for doing the same thing”.

He said Poland had abandoned the Visegrad cooperation in order to pursue this strategy as the V4, besides accepting the Paris-Berlin axis, acknowledged that “Germany is strong, Russia is strong, and between the two, in cooperation with the central European states, we form a third component”.

Orban also noted that Poland’s army is the second largest in Europe after France, with the country spending 5 percent of its GDP on defence.

The prime minister said Hungary’s “peace mission”, besides aiming for peace, was also about urging Europe to “finally pursue a policy of its own”.

Orban said the West had drifted into “intellectual loneliness”, arguing that until now it had seen itself as a point of reference, or a global standard, because it had been the one to contribute the values such as liberal democracy and the green transition, which the world had to accept.

“But this situation has taken a 180-degree turn over the last two years” Orban said, arguing that although the West had once again told the world to take a more determined stance against Russia, the reality was that “slowly everyone is supporting Russia”.

He said it was unsurprising that countries like North Korea and China were backing Russia, but Iran, India and even NATO-member Turkiye had joined them, and the Muslim world also saw Russia as a partner.

Orban said the biggest problem in the world was “the weakness and disintegration of the West”, as well as the Western media narrative that Russia was the biggest danger for the world.

“This is a mistake,” he said, arguing that Russia’s leadership was “hyper-rational, comprehendible and predictable”, unlike the West’s “irrational and unpredictable” actions.

He said Hungary’s task was to try to understand the West again. Central Europe’s worldview lay in the idea of nation states, while the West “believes that they no longer exist”, he added.

Also, the West, he said, thought differently about issues such as migration. While hundreds of thousands of Christians were killing each other in Europe’s east, hundreds of thousands of people from “foreign civilisations” were being allowed into the western parts of the continent.

He said the EU “not only thinks this way, but also declares it”, and their objective was to “transcend nations” and transpose their sovereignty to Brussels.

A similar battle was taking place in the United States, he said, so the stakes in the US presidential election “are enormous”.

Orban said Donald Trump, the Republican presidential candidate, wanted to bring the American people back from the “post-national liberal condition” to the “national condition”.

Opposition to this endeavour was behind moves to thwart Trump’s candidacy, he said.

“This is why they want to put him in prison, why they’re stripping him of his wealth, and if that doesn’t work, this is why they wanted to kill him,” Orban said.

Orban said the “dramatic, democracy-shaking” political consequence of the post-national condition was the political problem of elitism and populism.

He said the elites “condemn the people for drifting towards the right” and labelled the people’s feelings and thoughts “xenophobic, homophobic and nationalistic”. Meanwhile, “the people”, he said, suspected the elite of “sinking into some mindless globalism” instead of caring about what mattered to them.

He said this raised the problem of representative democracy: the elite, “even quite proudly”, did not want to represent the people, leaving the people effectively disenfranchised.

Orban said the elites “only find the values held by degree-holders acceptable”. This, he added, resulted in Brussels remaining “occupied by a liberal oligarchy”. “This left-liberal elite is actually organising the Transatlantic elite, which isn’t European but global, isn’t made up of nation-states but is federal, and isn’t democratic but political,” the prime minister said.

In the next decades Asia will be at the centre of the global system, Orban said.

“Europe can then decide whether it wants to be an open-air museum or a part of global competition,” he said, adding that changes were now afoot that had not been seen in the past 500 years.

Leading powers had come from the West over the past 150 years while change was now coming from Asia, he declared, citing Asia’s “demographic, technological and capital” advantage in more and more areas.

Orban referred to Asia’s military power and financial prowess, saying “the world’s biggest companies will be Asian” and the best universities and research institutes and largest stock exchanges would be based there.

Orban said former US president Donald Trump was seeking an American response to this state of affairs, and this represented America’s “last chance” to remain as a world leader.

The prime minister said that Europe had two options: to become an open-air museum in a “subordinated role to the US” or to follow French President Emmanuel Macron’s proposal to achieve strategic autonomy and “enter the competition for changing the global system”.

Orban insisted that it was feasible to recover Europe’s ability to attract capital and implement big infrastructure developments, “especially in central Europe”.

“We need a European military alliance with strong European military industry,” he said, adding that Europe must also be self-sufficient in terms of energy, for which nuclear power was indispensable. All this, he added, must be concluded after a post-war agreement with Russia is forged.

Orban said changes in the current global system presented more of an opportunity than a danger, “and our room for manoeuver is broader than at any time in the last 500 years”.

Orban said that 500 years ago Europe had been a winner, while Hungary had been a loser of the previous global paradigm shift, arguing that whereas a new economic space had opened up for the western part of the continent, the Muslim conquests had turned Hungary into a war zone for a long period, which afterwards had been forced to integrate into a German-Habsburg world.

He said developments in the United States “are going favourably for us”, adding, however, that he did not believe that the US could give Hungary “a better economic-political offer” than European Union membership could. “But if they can, we must take it into consideration,” he said.

Orban said China had given Hungary “the maximum it can offer” and considered Hungary’s EU membership an asset, “unlike the Americans, who always imply that we should leave [the EU].” China’s offer, he said, was that “we should participate in each other’s modernisation”, even if the differences in size should be kept in mind.

The prime minister said the western part of the EU “won’t ever return to the nation-state form”, adding that the bloc’s eastern half could protect nation states.

He said the EU had “lost the ongoing war” and would be abandoned by the US, adding that Brussels would not be able to finance the war in Ukraine or the country’s operations. This, he said, meant that “the European Union will have to pay the price of the war escapade, which will be high and will affect us unfavourably.”

Orban said it followed from this that the EU accepted that “central European countries will remain in the European Union” and they would remain nation states “pursuing their own foreign policy”.

“They don’t like it, but they’ll have to put up with it,” he said, adding that the number of such countries would only increase.

Given fundamental changes in the global system, a “Hungarian grand strategy” is needed, Orban said.

Policies for the period between 2010 and 2030 “will be carried out and completed”, he said. “But given [epochal] changes in the global system, these won’t be enough,” he said, explaining that connectivity was key to Hungary’s “grand strategy”.

He said Hungary must not find itself locked into either of the emerging Western or Eastern economies. “We must be present in both,” he said.

“We won’t enter into a war against the East or into technical and commercial blockades,” he added.

Also, the strategy encompassed sovereignty rooted in economic foundations, he said, adding that this meant fostering domestic national champions, competitive medium-sized firms, companies producing for the domestic market, and small and medium-sized enterprises.

Orban said several Hungarian national champions were competitive abroad in the banking sector, the energy sector, the food industry, the production of agricultural raw materials, IT, telecommunications, the media, the construction industry, real estate development, the pharmaceutical industry, military industry, logistics, and also “somewhat” in the knowledge industry via universities.

He said the medium-sized enterprise sector was also competitive, and the Hungarian government will launch a large programme for SMEs in the 2025 “peace budget”.

Orban said bolstering Hungary’s financial independence, reducing the debt stock to 30 percent, and turning the country into a regional creditor were key goals.

This meant retaining the country’s production capacities rather than turning into a service-centred economy, Orban said. “We mustn’t make the same mistake as the West of outsourcing manufacturing jobs to guest workers … as this would lead to a barely stoppable social breakdown,” he said.

He emphasised the importance of Hungarian society’s “solid and flexible social structure”, and halting demographic decline.

“We got off to a good start, but now we’re stuck,” he said. New momentum was needed, he said, and by 2035 “Hungary has to be demographically self-sustaining so that any idea of the population being replaced by migrants would be out of the question”.

He said it was likely that tax discounts for children in 2025 would have to be doubled in a single year so as to regain demographic momentum.

Orban highlighted the importance of creating wealth and the financial independence of the middle class and preserving full employment, “and the key to this is maintaining the current relationship between work and Gypsies”.

“Work is available, but to live you need to work,” he said.

Orban said the Hungarian grand strategy would take another six months to ripen and evolve.

The strategy “must be based on national foundations” and should include all Hungarians around the world, Orban said.

Support systems which underpin the stability and flexibility of Hungarian society, such as family support, must be spread out to all areas inhabited by Hungarians beyond the borders within the foreseeable future.

He said Hungarian villages must be maintained. “The village is not a symbol of backwardness; city-level services must also be provided in villages, and cities must bear the financial burden of this,” he said.

On the topic of protecting sovereignty, Orban said it was important to protect national diversity, and as well as preserving the language it was vital to preserve religion, too, as without Christianity there would be no moral compass or guidance.

Politics, he said, must be adapted to “our national character”. Freedom, he added, must be built internally. The personal freedom of Hungarians must be built as well as the freedom of the nation, he said. Order, he added, was not an intrinsic value but a condition for freedom.

“Our opponents will say that instead of an independent national grand strategy, integration is needed. So they’ll attack constantly… They’ll question not only the grand strategy’s content but its necessity, too. This fight must be taken up.”

Orban said the strategy’s success also depended on people in their twenties and thirties. “[We] must find brave, young fighters with the sentiment of the nation,” he said.

Answering a question about “the insanity of Europe”, Orban said Western Europeans had a totally different interpretation of the world, and this “appears to us as deranged or irrational” whereas it wasn’t. “[T]hey will be our partners in this deranged state, in the European Union,” he said.

The prime minister said he enjoyed European Council meetings in a way, explaining that as a central European leader, he had to keep in mind his and their “matrices”, and the complex system of relationships between the two had to be translated constantly.

“This is the most beautiful part of politics in an intellectual sense,” he said.

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Orbán: Peace won’t be achieved by Ukraine or Russia; it has to come from outside

orbán tusványos festival

If it were up to Ukraine and Russia, there would never be peace, so peace can only come from the outside, Prime Minister Viktor Orbán said in his address at the Bálványos Summer University in Baile Tusnad, Romania on Saturday.

orbán tusványos festival
Photo: MTI/Veres Nándor

Both sides are taking brutal losses, yet they don’t want to reach a settlement, Orbán said, explaining that this was because both Ukraine and Russia believed that they could win and were fuelled by their own “perceived or real truth”.

Orbán said the Ukrainians saw the war as a Russian invasion that violated international law and their territorial sovereignty, and that they were defending themselves and fighting a war or independence.

The Russians, on the other hand, believed that there had been “serious NATO military developments in Ukraine”, that the country had been promised NATO membership, and they did not want to see either NATO troops or NATO weapons on the Russia-Ukraine border, he said. So, he said, Russia believed it had a right to self-defence and that the war had been provoked.

“So everyone has some kind of perceived or real truth, and neither side will give up the war,” the prime minister said.

“This is a straight path to escalation,” he said, stressing that there would be no peace if it were left up to the two warring sides. “Peace can only come from the outside,” Orbán said.

Orbán: ‘Time is on side of peace policy’

Addressing the Bálványos Summer University in Baile Tusnad, Romania, on Saturday, Prime Minister Viktor Orbán said that “time is on the side of the peace policy”.

“Trump ante portas,” the prime minister said, referring to the upcoming US presidential election. He said that if Europe did not shift to a “peace policy” by the time of the November election, it would have to do so after Trump’s victory, “admitting defeat” and bearing the political consequences alone.

Orbán noted that the European Union’s founding treaty included the words “the Union’s aim is to promote peace”.

He said Brussels “doesn’t like it when we call what they do a pro-war policy, because they think they’re supporting the war in the interest of peace”.

He added that since the start of the Hungarian “peace mission”, the US secretary of state had spoken with Russia’s foreign minister, and the Swiss foreign minister had also held talks with him.

Ukrainian President Volodymyr Zelensky, he noted, had called Donald Trump, the former US president and Republican presidential candidate, and the Ukrainian foreign minister had visited Beijing.

“Although slowly, but we’re moving away from a European pro-war policy in the direction of a pro-peace policy,” Orbán added.

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Orbán: European politics collapsed, Asia to be centre of the world in new global system

PM Orbán is in Kyiv, meets President Zelensky hungarian government Hungary's presidency

European politics “has collapsed”, Prime Minister Viktor Orbán said in his address at the Bálványos Summer University in Baile Tusnad, Romania, on Saturday, arguing that Europe had relinquished the protection of its own interests.

“Europe is currently following the politics of the US Democratic Party unconditionally, even at the cost of self-destruction,” Orbán said, adding that sanctions imposed on Russia were hurting European interests, raising energy prices and making the European economy uncompetitive.

Orbán said the European system of powers had so far been based on a “Paris-Berlin axis”, but this no longer existed, or had at least “become irrelevant and evadable” compared with the “new power centre” comprising London, Warsaw, Kyiv and the Baltic and Scandinavian states.

He said the idea of replacing the Paris-Berlin axis was not a new one but rather “an old Polish plan” that involved Poland becoming the continent’s main American base. This, he added, required “calling the Americans in there, between the Germans and the Russians”. But this, he added, could only be made a reality owing to the current war.

“This is an old plan: weaken Russia and surpass Germany,” Orbán said, insisting that Poland was pursuing the “most deceitful politics” in Europe, arguing that “they’re obliviously doing business with the Russians while morally lecturing us for doing the same thing”.

Orbán: Asia to be centre of the world in new global system

In the next decades Asia will be at the centre of the global system, Prime Minister Viktor Orbán said in his address at the Balvanyos Summer University in Baile Tusnad, Romania, on Saturday.

“Europe can then decide whether it wants to be an open-air museum or a part of global competition,” he said, adding that changes were now afoot that had not been seen in the past 500 years.

Leading powers had come from the West over the past 150 years while change was now coming from Asia, he declared.

Orbán said former US president Donald Trump was seeking an American response to this state of affairs, and this represented America’s “last chance” to remain as a world leader.

The prime minister said that Europe had two options: to become an open-air museum in a “subordinated role to the US” or to follow French President Emmanuel Macron’s proposal to achieve strategic autonomy and “enter the competition for changing the global system”.

Orbán insisted that it was feasible to recover Europe’s ability to attract capital and implement big infrastructure developments, “especially in central Europe”.

“We need a European military alliance with strong European military industry,” he said, adding that Europe must also be self-sufficient in terms of energy, for which nuclear power was indispensable. All this, he added, must be concluded after a post-war agreement with Russia is forged.

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Orbán talks Schengen with Romania

orbán romania schengen

Prime Minister Viktor Orbán met Romanian Prime Minister Marcel Ciolacu in Bucharest, and they assessed the current state of Hungarian-Romanian bilateral relations, the PM’s press chief said in a statement on Friday.

orbán romania schengen
Viktor Orbán and Marcel Ciolacu. Photo: MTI/Miniszterelnöki Sajtóiroda/Fischer Zoltán

As the current holder of the EU rotating presidency, Hungary will put Romania’s full Schengen accession on the agenda in the autumn, the statement added.

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Hungarian foreign minister says European politicians are jealous of PM Orbán

Hungarian Foreign minister about Orbán Viktor

“Hungary’s peace mission is causing huge frustration across Europe,” Foreign Minister Péter Szijjártó said in an interview published by the Swiss weekly Weltwoche on Wednesday.

Europe’s politicians are “jealous” of Prime Minister Viktor Orbán, since “it has become very clear that our prime minister is the only one in Europe that can reach such players of global politics and security” as the presidents of Russia, China, Türkiye, or former US president Donald Trump, Szijjártó said.

Busy July for PM Orbán:

“European politicians are also frustrated because they are terrified … of it becoming obvious to everybody that they have not only pursued an ill-advised and unsuccessful strategy in terms of the war, but that strategy has also caused huge damage to Europe,” he said.

Leaders of the EU “have made it clear that Hungary is not authorised to represent the EU in those talks”, Szijjártó said, but stressed that Orban “did not speak in the name of the EU … obviously, we are fully aware that the rotating presidency has nothing to do with a diplomatic representation of the EU”.

Orban made his foreign visits “in his own role, because the European Union is not currently considered an important player in world politics”, the minister said. Orban, on the other hand, is “one of the prime ministers having served the longest time in his post in Europe, he has broad credibility in the world, and he is revered for his vision of the future and for the courage to promote that vision”, Szijjártó added.

Hungarian foreign minister waiting for Trump

Concerning a decision by Josep Borrell, the EU’s foreign policy chief, to move a planned informal meeting of EU foreign and defence ministers from Budapest to Brussels, Szijjártó said it was “childish revenge”, adding that “ministers of 13 EU members including the largest countries” had supported that the meeting should be held in Budapest.

Concerning the war in Ukraine, Szijjártó said Russia was “gaining more ground by the day” and “it is not a pressing issue for them to find any solution”. “Ukraine is asking for more and more support … they are getting it because the US has a Democrat administration and … we cannot expect either of the belligerents to come up with a solution, which means that the solution must come from the outside,” he said. “There are three actors: the US, China, and still, Europe … but Europe is lagging behind the US, copying the American strategy and acting in this sense as an assistant to the US, without a voice of its own … while China is on the side of peace,” he said, noting the peace plan the Chinese and Brazilian foreign ministers had tabled. “The incumbent US government is obviously pro-war; if there is a change [in the US], at least two out of the three great powers will support peace and that could redraw the picture completely,” Szijjártó said. Trump’s return to power could “lend new momentum” to those changes, Szijjártó insisted.

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Featured image: depositphotos.com

Orbán’s circle holds nearly EUR 4 billion in private equity funds

forint bank card coin money bond finance interest rate freeze Hungarian government orbán

Private equity funds linked to key figures in Hungarian Prime Minister Viktor Orbán’s circle have amassed nearly HUF 1.5 trillion (approximately EUR 4 billion) in assets, Válasz Online revealed. This staggering amount, highlighted by the financial reports from 2023, underscores the substantial wealth concentrated among individuals such as Lőrinc Mészáros, László Szíjj, István Tiborcz, and Ádám Matolcsy.

Orbán’s circles hold immense wealth

Válasz Online investigated the private equity funds belonging to Lőrinch Mészáros, László Szíjj, István Tiborcz, and Ádám Matolcsy, and revealed that the Orbán-affiliated circles have HUF 1 452 billion in assets. Thanks to the government’s legal regulation, little is known about these funds, including the source of their staggering wealth.

Breakdown of key figures and their funds

  1. Lőrinc Mészáros:
    • Opus Global Investment Fund Management Plc.: This entity manages eight private equity funds, including Konzum PE, Global Alfa, Metis, Metis 2, Status Energy, Opus Bridge, Danube, and Opus New Way, along with the Takarék Closed-End Investment Fund and OPUS TM-1 Real Estate Investment Fund. The total net asset value of these funds in 2023 was HUF 600 billion (EUR 1.5 billion).
    • MBH Investment Fund Management Plc.: This manages the MBH Private Equity Fund and MBH Agricultural Investment and Development Private Equity Fund, with a combined net asset value of HUF 119 billion (EUR 305 million).
    • Status Capital Venture Capital Fund Management Plc.: Overseeing seven private equity funds, including Status MPE, Status Talent, Béta, Ekho, Status Next Environmental, Status Food, and Status Property, the net asset value totals HUF 51 billion (EUR 131 million).
  2. István Tiborcz:
    • Gránit Fund Management Plc.: Managing five private equity funds (Főnix, Gordiusz, Diorit, Egmont, Nivala) with a net asset value of HUF 252 billion (EUR 646 million).
    • Equilor Fund Management Plc.: Handling two private equity funds (Central European Opportunity, Central European Opportunity II) and a real estate fund (Central European Real Estate Fund), these funds have a combined net asset value of HUF 211 billion (EUR 541 million).
    • Central European Venture and Private Equity Fund Management Plc.: Responsible for four private equity funds (Central European I, Central European II, Central European IV, Central European VI) with a net asset value of HUF 24 billion (EUR 61.5 million).
  3. Ádám Matolcsy:
    • Quartz Investment Fund Management Plc.: This firm manages eight private equity funds (Sky I, Sky II, Felis, Central European III, Arezzo, Aurum, Bremdal, Uncia) and six real estate funds (Caracal, Burano, Blue, Garda, Panther, Atrox), with a total net asset value of HUF 116 billion (EUR 297 million).
  4. László Szíjj:
    • Minerva Investment Fund Management Plc.: This company manages four private equity funds (Themis, Via, Vesta, Cronus) and several real estate funds (Minerva, Minerva V50, Minerva Green), with a net asset value of HUF 79 billion (EUR 202 million).

Additional insights and confidential entities

  • Primefund Investment Fund Management: An entity with close ties to the government and Orbán’s loyalists, Primefund’s detailed financials remain largely confidential. However, it is known to be linked to entities such as the Fidesz party, the state-supported Mahir group, Valton security company, and the nationally recognised Kürt Information Security Plc. This secrecy suggests that the total hidden wealth of Orbán’s circle, when including Primefund, could exceed HUF 2 trillion (EUR 5.1 billion).

The discovery of these vast sums, which could potentially fund the construction of multiple new metro lines in Budapest, highlights the immense financial influence wielded by Orbán’s closest allies. The opaque nature of these funds, facilitated by government regulations, raises questions about the origins and oversight of such wealth.

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