The high-tech Chinese investment is the largest of its kind in Hungary's history.  

Photo by David Tanecek / PAP / CTK (JAP)

The Parliament adopted Hungary's 2023 central budget on Tuesday with 135 votes in favor and 54 against. In next year's budget, the government expects economic growth of 4.1 percent and inflation of 5.2 percent.

The European Commission on Monday cleared Hungarian oil and gas company MOL's acquisition of 417 Lotos refueling stations in Poland. At the same time, MOL agreed to sell 185 of its own gas stations to PKN Orlen for a total consideration of USD 259 mln. Photo by David Tanecek / PAP/CTK (JAP)

The European Commission has raised its projection for Hungary’s GDP growth this year to 5.2 percent and said it would slow to 2.1 percent in 2023.  Photo by OLIVIER HOSLET / PAP/EPA (JAP)

KGHM, the Polish copper giant, has signed a contract with NuScale. As part of the concluded agreement – signed in Washington in the presence of Deputy Prime Minister Jacek Sasin and representatives of the American administration – KGHM and NuScale will implement the SMR technology in Poland.

The Central Statistical Office (KSH) said Hungarian economic output grew by an annual 7.2 percent in the fourth quarter, bringing full-year growth to 7.1 percent.

Hungarian Prime Minister Viktor Orbán held talks in Budapest on central and eastern Europe’s energy sovereignty and efforts to consolidate the north-south energy corridor with Daniel Obajtek, management board president of the Polish PKN Orlen company, and Zsolt Hernádi, chairman-CEO of the Hungarian MOL Group – the prime minister’s press chief Bertalan Havasi announced.

Consumer prices in Hungary rose by 7.9 percent year-on-year in January – data released by the Central Statistical Office (KSH) on Friday show.  

Reduced VAT on gasoline and diesel oil in Poland and the Fuel Price Cap introduced by the Hungarian government are pushing more and more drivers from Germany, the Czech Republic and Slovakia to top up their tanks in Poland and Hungary. Photo by Marcin Bielecki / PAP (JAP)

In January, the new residential real estate market in Budapest set a record: the average price per square meter increased by 17 percent to HUF 1.03 million (PLN 13200 / EUR 2905).  Photo by nextvoyage / pixabay   (JAP)

Fitch Ratings has affirmed Hungary's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB' with a Stable Outlook. According to the decision announced in London on Friday night, the stable outlook for the sovereign Hungarian rating reflects Fitch's expectation that the growth of the Hungarian economy, which is recovering from the coronary virus epidemic, will be sustained.