Lawmakers Extend Repayment Moratorium

Parliament unanimously approved legislation to extend a moratorium on loan repayments, but only for vulnerable borrowers. The legislation extends the loan repayment moratorium by six months to next June. It covers families with children, pensioners, the jobless, fostered workers and companies struggling financially because of the pandemic. The moratorium was one of the first measures […]

Huawei to Set Up R&D Centre in Budapest

Chinese telecommunications giant Huawei is setting up a research and development centre in Budapest, Minister of Foreign Affairs and Trade Péter Szijjártó said. The investment, which will create jobs for at least 100 Hungarian engineers, is Huawei’s third in Hungary, he said. Szijjártó said cooperation between Hungary and China was better than ever. The investment […]

Dunaferr Unions Protest for Wage Payments, New Collective Agreement

Unions of steelmaker Dunaferr in Dunaújváros, in central Hungary, have staged a demonstration demanding that the company should pay employees’ wages and negotiate a new collective agreement. The company unilaterally terminated the collective agreement on August 14, has not started talks on a new deal with employees, and has delayed payment of last month’s wages. […]

Construction Sector Contraction Slows in August

Output of Hungary’s construction sector fell by an annual 13.6% in August, an improvement after a 21.0% decline in the previous month, data released by the Central Statistical Office (KSH) show. Output of the construction sector started dropping in March, when the first pandemic restrictions were introduced, and the decline reached the double digits in […]

Government Launches HuF 12.5 BN Scheme for Young and Unskilled Jobseekers

The government is launching a 12.5 billion forints (EUR 34.4m) scheme to support the placement of 25,000 jobseekers either under the age of 25 or unskilled. Announcing the scheme, the innovation and technology ministry said a new subsidy will cover half of payroll costs of up to 100,000 forints a month for full-time employees, while […]