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Hungary grants uncapped state subsidy for companies

With the agreement of the European Commission, Hungary can grant uncapped state subsidy to companies which undertake investments to protect jobs, the Hungarian foreign minister announced. Peter Szijjarto said that a new program would be launched to support Hungarian companies that are willing to make an investment of at least 560 million forints (approximately 1.6 million euros) to protect jobs at risk due to the coronavirus pandemic.

Skimping on police budget leads to alarming crime stats

The city council has cut one billion dollars from the New York Police Department's budget, while statistics show that the number of homicides has increased by 25 per cent,...

Hard hit aviation giant to cut thousands of jobs in Europe

Several airline companies appear to be struggling in the economic crisis caused by the coronavirus pandemic. One of the sector's major players has been forced to take drastic steps to survive,...

Largest state-owned company lays off a fifth of its workforce

One of the biggest state-owned companies is preparing to cut nearly 10 thousand jobs, with some 15-20 per cent of its workers to be dismisssed until 2022....

Merkel: Pandemic has revealed the fragility of the EU project

Speaking in the Bundestag on Thursday, German Chancellor Angela Merkel outlined Germany's key objectives during its EU presidency commencing on 1 July....

"Hungarian-owned companies are the soul of Hungary's economy"

This was the main message relayed by Hungarian Minister for Foreign Affairs and Trade Peter Szijjarto on Wednesday, at the foundation stone laying ceremony of a new logistics centre for BHS Trans Llc, in the industrial zone south of the east Hungarian town of Debrecen.

Hungary was much better prepared for coronavirus than 2008 financial crisis, study shows

The irresponsible economic policies of the Socialist governments have made the Hungarian economy vulnerable in terms of every key indicator ahead of the 2008 crisis....

Non-EU countries to receive €155 billion in support

EU Neighbourhood and Enlargement Commissioner Oliver Varhelyi has urged a more courageous EU investment strategy to support the economic recovery of Ukraine and the Western Balkan region....

Number of part-time workers hits record high

In Germany, the number of part-time workers exceeded 7 million in May, according to a report issued by the German Ifo Institute for Economic Research on Tuesday....

Wrong strategic decisions force closure of French and Spanish car plants

Within three years, the Renault Group will slash 15,000 jobs worldwide as part of a €2 billion cost-cutting plan. Six of the group's 14 plants in France will undergo layoffs,...

EU's €750bn aid package is taking shape

Contrary to a 500-billion-euro bailout plan proposed by Germany and France, the European Commission (EC) is to initiate a €750 billion economic relief package on Wednesday....

Ryanair calls German state's market intervention illegal

The German government's 9-billion-euro bailout package to rescue Lufthansa will massively distort competition, therefore it is "illegal",...

French and German auto industries receive state support

President Emmanuel Macron announced an 8-billion euro bailout package for the French car industry on Tuesday, following talks with Renault's chairman and leaders of automotive suppliers....

Lufthansa is partially nationalised

Germany has adopted the largest government aid package of the country's history. The German government agreed to pay some 9 billion euros to bail out Lufthansa in exchange for a 20-percent stake in the company,...

EU car industry recovery fund to support Von der Leyen's green lobbyists

The European Commission plans to provide 100 billion euros to help revitalise the car industry after the health crisis, but the aid is tied to electric propulsion and the production of “cleaner vehicles,...

Crisis strengthens Italian right

According to a recent poll, right-wing parties in Italy have managed to retain their strong support. At present, 46.7 per cent of Italian voters would cast their ballots to one of the three centre-right parties,...

European dillemma: grants or loans?

On Monday, German Chancellor Angela Merkel and French President Emmanuel Macron proposed a 500-billion-euro recovery package to be distributed to EU member states worst affected by coronavirus....

The world will not be the same again, but we have a plan

In a video, a Polish freedom fighter talked about how proud he was of his compatriots for fighting the epidemic. In the touching video, Mateusz Morawiecki described Poles as a hardworking nation acting in solidarity and stressed that as a result, Poland will soon recover and catch up with the richest countries.

V4NA overview: Eat local! - Part III

Countries all across Europe are trying to support their producers in a bid to restart the economy as soon as possible. This is no different for V4 countries, which have also launched several campaings promoting the consumption of domestic products.

V4NA overview: Eat local! - Part II

As the coronavirus pandemic is posing a challenge to certain economies, national sentiments and demand for domestic products have intensified, and campaigns promoting all that have become more vibrant. In Part 2 of its summary, V4NA reveals how Germany and Austria are trying to help their producers, and how Belgian breweries are supported.

V4NA overview: Eat local! - Part I

The coronavirus pandemic appears to have strengthened national sentiments. Campaigns, broad social co-operations and government measures are all designed to encourage people across the globe to buy domestic food, thus helping local farmers and the economy to recover. In a new series of articles, V4NA has summarised the measures European countries are taking to protect their producers.

Elderly to pay coronavirus tax

An economist has come up with a shocking new idea of imposing a corona tax on the elderly to cushion the pandemic's economic fallout. His proposal is aimed at compensating younger people for the 'injustice' of having to stay home,...

Former F1 team boss calls government "enemy of entrepreneurs"

Flavio Briatore, former leader of Renault’s Formula One team has voiced harsh criticism of Italian Prime Minister Giuseppe Conte and his government....

Government bailout conditional on relocating production to France

Renault will have to relocate its production lines to France if it wants to receive the government's 5-billion-euro rescue package, French Economy and Finance Minister Bruno Le Maire said on Monday....

Airport removes legal seasonal workers

Although they had valid work permits, French authorities have sent home more than 80 Bulgarian seasonal farm workers from Roissy airport, citing coronavirus-related lockdown restrictions. The workers' lawyer says the group should have been allowed to wait at the airport until Monday, when the French government lifted the entry ban on seasonal workers.

Resolute Von der Leyen considers infringement proceedings re constitutional court ruling

The European Commission President has threatened to sue Germany over a constitutional court ruling that allows the European Central Bank and Germany's Bundesbank to buy bonds in the euro zone countries....

Viktor Orban: budget must serve job creation

The budget must serve the economy protection action plan, investments and job creation, Hungarian Prime Minister Viktor Orban said on Monday, when he held consultations with the heads of the Finance Ministry and its background institutions.

Trade union shuts down recently reopened car plant

Nine days after the lifting of strict coronavirus measures and the restart of manufacturing, the French CGT union shut down Renault's car plant in Sandouville again....

President's confidant faces new corruption allegations

In two years anti-corruption Anticor has filed its fourth complaint against the French president's right-hand man Alexis Kohler, the secretary general of the Elysee Palace....

The Soros formula: this is how Soros's debt slavery scheme works

US speculator George Soros has recently proposed a plan which would have the EU introduce a new type of bond to deal with the economic problems caused by the coronavirus pandemic. It is a type of perpetual bond that would pose significant risks to the European economy.

Governments make bailout billions to airlines conditional

In an open letter, nine French regional airlines asked Aeroports Paris to reopen Paris-Orly airport in June, otherwise the companies will face massive layoffs and bankruptcy....

Not everyone happy with government's car purchase subsidy

In order to boost car sales, the Bavarian government is planning to provide financial support for the purchase of Euro 6-compliant diesel or petrol vehicles,...

Crisis brings Norwegian to the brink of bankruptcy

Having turned to its investors in a desperate bid to accept its bailout plan, Norwegian Air's management is preparing for a "worst-case scenario....

Hungarian government's tax reduction package affects 300 thousand businesses

Hungary's finance ministry has submitted a bill to reduce the financial effects of the coronavirus pandemic on companies, Finance Minister Mihaly Varga announced on his Facebook page on Thursday....

Orban plan restarts Hungary with multiple measures

The implementation of Hungary's largest ever economy protection plan is already under way with a view to restarting the country's economy as quickly as possible. Led by Prime Minister Viktor Orban, the Hungarian government and the Hungarian economy's leading institutions have introduced a number of significant measures to put a swift end to the interim situation caused by the pandemic to families and businesses. Hungarian news portal Origo has summarised everything we know about the Orban plan, geared towards revitalising Hungary.

V4NA overview: boosting domestic traffic can save tourism industry

The World Travel & Tourism Council (WTTC) has published a list of states where tourism is most affected by the coronavirus pandemic. In Europe, the decline mainly affects Spain and Italy,...

Brussels makes conditional pledge of huge support to European auto industry

Thierry Breton, the EU's Internal Market Commissioner would funnel over 30 billion euros into the European auto industry. At the reopening of the Wolfsburg plant on Monday,...

Hungary's economic action plan protects people's jobs

The Hungarian government believes that the jobs of Hungarian people must be protected, and this is a key element of its economic action plan. Unlike under Hungary's left-wing governments, people now receive assistance in the form of wage subsidies instead of aid, and companies can enjoy state support instead of restrictions, the deputy minister at Hungary's Innovation and Technology Ministry has said.

PM Morawiecki: EU funding must be made available to every member state

Every EU member state should have access to the bloc's coronavirus aid, Polish Prime Minister Mateusz Morawiecki said. Poland has already spent 25 million euros on creating jobs within the framework of the most ambitious relief package in the country's history.

WizzAir restarts European flights, Lufthansa begs for state bailout

Lufthansa requests a 10 billion euro state aid to solve its liquidity problems, the German company announced on Thursday. In Italy, the government will re-nationalise the Alitalia airline in June....

Data disprove diesel critics: air pollution grows despite moderate traffic

Nitrogen dioxide levels in the air remain high despite a sharp decline in road traffic due to the pandemic, according to measurements by the German Federal Environmental Protection Agency (UBA) in Stuttgart and Munich....

Meloni: EU's survival may depend on Italy

Europe has already lost the UK so Italy has to realise how strong its position is. The EU would not exist any more without Italy, Georgia Meloni, leader of the Fratelli d'Italia (FdI) party said in a televised interview....

Fraudsters use full suite of tools in coronavirus-related scams

In Britain, the damage caused by crimes committed in reference to coronavirus has exceeded 2 million pounds (2.5 million dollars) this week, and 13.5 million dollars in the United States....

Swift and effective measures help contain epidemic in Central Europe

One of the key questions when it comes to the containinment of the coronavirus pandemic and mitigating its economic fallout is when the individual countries' governments had introduced the necessary precautionary measures,...

Government introduces further tax reliefs due to pandemic

The Hungarian government has decided to extend the deadline for filing tax returns and to take steps to boost tourism, Gergely Gulyas, the head of the Prime Minister's Office, said during his online press briefing on Thursday.

Hungary's economic relief package outstanding in Europe

Figures compiled by the Hungarian Szazadveg Economic Research Institute show that Hungary's economy protection action plan, compared to the measures of other states, is outstanding even at a European level. While the French government, for instance, only utilises 11 per cent of the country's GDP to protect the French economy, Hungary has pledged to reallocate 19.6 per cent.

V4NA interview: patriotism is nothing less than responsible thinking

Patriotism is nothing less than responsible thinking which suggests that all products and developments that we can manufacture or implement in Hungary should be made there, creating added value and jobs for a large number of Hungarians. Laszlo Gyorgy, state secretary at the Ministry of Innovation and Technology, spoke to V4NA about the Hungarian government's large-scale Economic Protection Action Plan, which aims to mitigate the economic effects of the current coronavirus crisis and to restart the economy. The action plan prefers a work-based society to running up ill-considered debts, and it rewards work and learning, Mr Gyorgy revealed.

George Soros likes to talk about rules but fails to obey them

Strange phenomena have taken place around the Hungarian forint recently, as the value of the currency has decreased in a scale that did not reflect the state of the economy. According to Hungarian analysts, the attack of American stock market speculator George Soros may be in the background. Although short-term financial operations have been tightened due to the coronavirus pandemic, Soros is unlikely to be interested in that. While he likes to talk about the importance of rules, practice shows that these are just empty words.

George Soros’s attack may be behind depreciation of forint

According to Hungarian experts, the American stock market speculator is consciously trying to weaken the Hungarian currency. In 1992, it was the British pound, while in 1997, the exchange rates of East Asian countries collapsed due to Soros’s attacks. It is suspected that this time the billionaire not only wants to make a profit from devaluing the forint, but is also motivated by political revenge.

V4NA overview: Europe's agriculture faces severe problems

With the spring coming, it is time for seasonal work in agriculture, but workforce is scarce. France and the United Kingdom encourage people without work to give a hand in agriculture. Spain needs to conclude a special agreement with Morocco so that Moroccans are allowed to cross the border for harvests in Spain. Germany has plans to fly seasonal workers into the country, who will need to work in isolation for two weeks.

Germany and France face unprecedented recession

Leading research institutes expect the biggest recession in the German economy to date due to the coronavirus pandemic. The shutdown of the industrial and service sectors may cause production to fall by 9....

Beware Britain, here comes short-selling Soros

Monday's news reports claiming that PM Boris Johnson was admitted to hospital with persistent coronavirus symptoms had serious economic ramifications as the pound sterling moved lower in response. Because of the current economic uncertainties and volatile currency markets an increasing number of countries may become the target of stock exchange speculators like George Soros. Matteo Salvini warned about the risks of short-sellling transactions a month ago, but the danger hasn't passed.

Central Bank allocates HUF 3000 billion to protect Hungary's financial system

The Monetary Council of the Hungarian Central Bank will provide new resources worth 3000 billion forints for the protection of Hungary's financial system, which accounts for 6% of Hungary's predicted 2020 GDP. The Central Bank governor said that measures introduced by both the government and the central bank so far had created economic and financial stability in Hungary, which is the foundation of trust. Hungary's Central Bank continues to forecast a 2-3 % GDP growth for 2020.

Germany and Netherlands sideline EP President from emergency response

German Chancellor Angela Merkel and Dutch Prime Minister Mark Rutte have excluded European Parliament President David Sassoli from talks on the EU's coronavirus response on Monday,...

Hungary announces economic action plan of historic proportions

On Tuesday, Hungarian Innovation and Technology Minister Laszlo Palkovics gave a detailed account of the economic measures announced by Prime Minister Viktor Orban on Monday. The government's new action plan to boost the economy is based on four pillars and includes elements like tax cuts, supporting companies with favourable loan conditions, capital investments and wage relief, as well as supporting adult education and providing family subsidies.

Hungary launches 2nd phase of economy protection action plan

Hungary’s prime minister announced the launch of the second phase of Hungary’s economy protection action plan, helping Hungarian businesses with additional measures to overcome the epidemic. Viktor Orban said the government will create as many jobs as are lost because of the coronavirus crisis.

Parties, municipalities, companies and banks also contribute to coronavirus protection fund

Burden-sharing is needed in the fight against the coronavirus pandemic, to this end, the Hungarian government has established a coronavirus protection fund,...

Viktor Orban: Hungary's biggest ever economic action plan is under way

The biggest economic recovery package in the history of Hungary will be announced next Tuesday, Hungary's prime minister said. Viktor Orban pointed out that the government's aim was to retain jobs and create new job opportunities so that the country could avoid having to return to an aid-based economy. The premier stressed that health care workers are to receive additional benefits, adding that the government would decide on the extension of the current curfew restrictions next Wednesday.

Romania applies for IMF loan, Italy could be next

Romania is seeking unconditional financing from the International Monetary Fund (IMF) to sustain its economy during the coronavirus pandemic. Throughout the world,...

Auto industry hits historic low amid coronavirus fears

Vehicle sales in France have dropped by an unprecedented 70 per cent after the government ordered the closure of all stores selling non-essential goods and services,...

Viktor Orban: We must introduce largest ever economic stimulus package

This year's budget must be radically restructured to manage the current crisis and reboot the economy, but we must also outline next year's budget and introduce Hungary's largest ever economic stimulus package,...

Can coronavirus cause the euro to crash?

Failure by the European Union to show more solidarity to its member states during the coronavirus emergency could herald the end of the European project,...

Coronavirus: the hardest part is yet to come

The hardest part of the coronavirus pandemic is yet to come, when the stage of group infections will surely reach the mass infections phase, Csaba Domotor, the parliamentary state secretary of the cabinet office, told Hungary's public media.

EU refuses to help with coronavirus pandemic

Neither Hungary, nor the Czech Republic has received any additional funds to tackle the pandemic, contrary to what the Czech press and the Hungarian opposition claim.

ECDC's false risk assessment hinders coronavirus response

For a month and a half, the European Centre for Disease Prevention and Control (ECDC) did not treat the potential risks of coronavirus with sufficient seriousness, V4NA discovered, based on the EU institution's risk assessments. Even on the day of the first death in Europe, the ECDC said the risk of viral infection for the population of the European Union and the United Kingdom was "moderate".

27 tons of protective gear to arrive from China

An aircraft arriving in Budapest on Saturday will bring 27 tons of protective gear from China to Hungary. On Sunday, another two planes will bring 3,270,000 masks to Budapest to ensure that everyone involved in health protection is equipped with the right protective gear, Hungarian Foreign Minister Peter Szijjarto said.

Hungarian government spends 690 million euros on protective measures

The Hungarian government's financial action group is constantly adjusting the budget to the pandemic situation, and several new economic protection measures are to be announced next week,...

Tensions grow between national governments and EU bureaucrats over managing crisis

Countries concerned over economic damage caused by the coronavirus and taking measures to protect their economies within their own powers appear to disagree with EU bureaucrats....

Hungary bans export of pharmaceutical product during coronavirus emergency

The move was announced by the Government Information Centre in Budapest on Wednesday. The substance is used in the treatment of coronavirus patients.

Coronavirus plunges France's tourism into deep trouble

A two-month long state of emergency has entered into force in France as the number of coronavirus patients is growing rapidly. The government is also tightening the rules of leaving one's home during the curfew,...

German government's new package sends budget to deficit

On Monday, the German government has approved a supplementary budget of 156 billion euros to shore up jobs and businesses at risk from the economic impact of the coronavirus outbreak....

Coronavirus may destroy sports clubs, championships

European football clubs are incurring millions of euros in damage caused by the halting of championships due to coronavirus pandemic. The clubs were able to obtain at least the television royalties of matches behind close doors, but the loss of ticket sales due to the cancellation of the matches could force the teams to their knees. In the US basketball league NBA, the delay of the playoffs will cut revenues by 500 million dollars. The Formula One season has not even started yet, but even the prestigious Monaco Grand Prix was cancelled on Thursday, threatening the livelihood of hundreds.

Hungarian government aims to prevent people from losing their jobs

Hungary's government intends to provide support to those who suffer losses due to the pandemic so that they could survive the crisis, head of the Prime Minister's Office Gergely Gulyas said at his regular press conference in Budapest on Thursday....

European stock markets react positively to ECB's pandemic emergency programme

Major European stock indexes rose on Thursday morning after the European Central Bank (ECB) had announced a 750 billion euro bond purchase programme on Wednesday night to ease the economic impact of the coronavirus pandemic.

Car manufacturing in Europe comes to a halt due to coronavirus

After the announcements of Volkswagen and Daimler (Mercedes-Benz) on Tuesday, BMW also stated on Wednesday that it would terminate manufacturing in all of its European factories for one month because of coronavirus....

France may nationalise essential companies

France may nationalise companies essential to ensuring smooth production, French Prime Minister Edouard Philippe said on television. The lockdown hugely impacts French people's everyday lives,...

Global race to develop coronavirus vaccine underway

The EU offered up to €80 million of financial support to German company CureVac, whose researchers are developing a coronavirus vaccine. According to German press reports,...

Airlines facing bankruptcy request government bailouts

German airline Lufthansa has requested help from Germany, Belgium, Austria and Switzerland to alleviate the negative impact of the coronavirus pandemic....

European states spend billions on saving economy

In a bid to protect their economies from collapsing under the shock of the coronavirus disease, Germany has launched an unlimited government loan programme, the UK and Austria have introduced stimulus packages worth 33.5 billion and 4 billion euros, and France has offered paid sick and emergency leave to its citizens. Besides, the EU is launching a €37 billion investment stimulus programme to support businesses in the member states, and these are only the first steps in mitigating the pandemic's negative effects.

Independent monetary policy can be beneficial in times of crisis, expert says

Twenty years after the introduction of the eurozone, experience shows that a country's economy can perform well with or without the euro. An independent monetary policy can help countries recover from a crisis more easily whereas the eurozone did not help Italy and Greece. Poland and Hungary managed to achieve significant growth in the decade after the 2008 recession without the euro, Gabor Regos, head of the Macroeconomic Business Sector of Szazadveg Foundation, told V4NA.

Pay gap hurts women the least in Central and Eastern Europe

The pay gap between men and women in the EU's most advanced economies is surprisingly large, according to Eurostat's latest report. While left-wing politicians talk about "discrimination" against women in Central and Eastern European states,...

Viktor Orban promises economic assistance to companies as "brutal change" looms

Speaking at the economic policy forum of the Hungarian Chamber of Commerce and Industry in Budapest on Tuesday, Hungarian PM Viktor Orban promised several billion euros in assistance to Hungarian economic players worst hit by the spreading coronavirus. Mr Orban said as the coronavirus will bring 'brutal changes' to the economy, Hungary needs an economic policy that encourages performance and creates a sense of comfort and pride. He emphasized that the key question now was not the extent of Hungary's expected economic growth, but whether Hungary could produce a growth rate at least 2 per cent higher than the EU average.

Salvini warns of speculation by George Soros

Although Italy’s stock exchange opened on Monday, stockbrokers witnessed plummeting stock prices because of the coronavirus disease. Former interior minister and Lega party chief Matteo Salvini took to Twitter to warn about the activities of speculators like George Soros. Italians have bad memories of the US speculator who launched a fierce attack against the lira back in 1992.

"Black Monday": European stock markets plummet

Several stock indexes have fallen to levels unseen since the collapse of Lehman Brothers in 2008. London's FTSE, Frankfurt's Dax and the Paris stock index CAC-40 fell by more than seven per cent by the end of the trading on Monday....

Large airlines expect virus crisis to end soon

The International Air Transport Association (IATA) estimates the loss in revenue caused by flights cancelled due to the coronavirus at 63 billion dollars,...

V4 countries rank high in list of fastest-growing companies

Tech companies dominate the list of Europe's fastest-growing businesses compiled by the Financial Times for the fourth time this year. Firms engaged in information and mobile technology along with e-commerce make up over a quarter of the annual FT 1000 ranking....

Coronavirus could cut global economic growth in half

The escalation of the coronavirus epidemic may cause one of the gravest downturns in global economic growth since the 2008 financial crisis, according to the latest Interim Economic Outlook released by the Organisation for Economic Cooperation and Development (OECD) on Monday....

Soros's Brexit predictions fail

Billionaire stock market speculator George Soros published an opinion piece in 2017 discussing the negative impact of Brexit on the UK’s economy....

George Soros supports climate protection but invests in oil extraction

While Soros Network NGOs are fuelling climate change movements around the world, the US billionaire speculator's international investment fund has raised 2 million dollars in just three months after buying a stake in a Texas oil company.

Liberal government's green policy is ruining Canadian families

The Canadian government is planning to impose its unconstitutional carbon taxes on Alberta families, a province already heading toward recession. Besides,...

Coronavirus leaves German car manufacturers in uncertainty

The spread of coronavirus not only endangers the components supply to the car industry but also reduces the demand for new cars, especially in China. According to German automotive expert Ferdinand Dudenhoffer, world car production in 2020 will fall by 2.7 million units to 76.9 million vehicles. On Thursday, the German Automotive Federation (VDA) said in a statement that they expected a 3 per cent decline in Europe and 7 per cent in China this year.

Electric cars no greener than traditional vehicles

Even though the local carbon dioxide emission of electric vehicles is zero, if we count the products' whole lifecycle and the costs of producing and storing the energy needed to manufacture them,...

Disinfectant prices soar and stores close: coronavirus may do serious damage to Italian economy

Nearly three hundred people are infected and seven have died of the coronavirus in Italy. There are concerns that the spread of the infection from China is causing serious damage to the country's economy....

Canadian government funds climate activists

The Trudeau government has gifted nearly ten thousand dollars to an NGO which blocked the construction of a pipeline in Alberta with a series of protests,...

Hungarian economy is among most competitive in Europe

From the point of economic growth, the term between 1 October and 31 December 2019 was the tenth quarter when GDP growth exceeded 4 per cent on an annual basis. The international reputation of the Hungarian economic policy is improving, and credit rating agencies such as Japan Credit Rating Agency and Standard & Poor's have recently recognised the achievement of the Hungarian economy, Parliamentary State Secretary at the Finance Ministry Andras Tallai said.

UK reaches employment peak and plans tougher immigration rules

Despite the difficulties of Brexit, the UK has left the European Union with record employment of 33 million, thanks to the Johnson government. The prime minister aims to reform the labour market and intends to introduce a points-based system which would stop the influx of unskilled immigrants.

Greens block construction of Tesla's e-car factory

Activists of the German Green League have obtained a court order to prevent the construtcion of Tesla's first European car factory near Berlin. Although the US e-car manufacturer has received permission from Brandenburg's environmental office to begin the groundwork,...

Economic growth slows in Czech Republic

In 2019 the Czech Republic's economic growth fell to 2.4 percent from 2.8 percent a year earlier, according to preliminary figures published by the Czech Bureau of Statistics (CSU) on Friday.

Hungary sees unprecedented economic growth

Economic growth in recent years has led to an unprecedented convergence period in Hungary's economy, which produced record growth rates in three consecutive years between 2017 and 2019, Hungarian Finance Minister Mihaly Varga said, citing data published by Hungary's Central Statistical Office on Friday.

Hungarian economy expands by nearly 5 per cent in 2019

Gross Domestic Product (GDP) in Hungary grew by 4.9 per cent last year compared to 2018, according to a first reading by Hungary's Central Statistical Office (KSH) on Friday.

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