Central Europe / News

Hungarian economists say CPI figures are distorted by change in methodology

Tamas Csonka in Budapest December 6, 2023

Economists suspect figures are being massaged to improve economic picture.

Tusk-led Polish government could finally win confidence vote on December 11

Wojciech Kosc in Warsaw December 5, 2023

Despite winning the election on October 15, the three-party government of Civic Coalition, the Third Way and the Left is yet to take over power because of obstruction by the outgoing Law and Justice party.

Orban raises stakes on Ukraine's EU accession ahead of summit

Tamas Csonka in Budapest December 5, 2023

Rejection of Ukrainian accession would deal a significant blow to the country's morale amidst the ongoing war with Russia, particularly given the hold-up in the US Congress to further US aid.

Slovak cabinet approves new levy on banks to cut budget deficit

Albin Sybera December 5, 2023

The Ministry of Finance projects a public deficit of 6.5% of GDP this year and 6% of GDP next year.

Poland’s central bank fortifies defences against a Tusk government “political attack”

Wojciech Kosc in Warsaw December 5, 2023

ECB says that preventing the NBP governor from performing his duties could affect the bank's independence.

New Slovak government plans to dismantle Special Prosecutor’s Office

Albin Sybera December 4, 2023

Fico’s cabinet is reported to be pushing through the change in an effort to safeguard Smer politicians under investigation and stop the investigations from spreading further into Smer ranks.

Russian Foreign Minister Lavrov lashes out at West at OSCE meeting in Skopje

Valentina Dimitrievska in Skopje November 30, 2023

North Macedonia's decision to open airspace to allow Lavrov to attend sparked a boycott by Ukraine, Poland and the Baltic states.

Biggest Czech steel mill seeks protection from creditors

Albin Sybera November 30, 2023

Liberty Ostrava's restructuring plans are reportedly backed by all its creditors. Company claims strategic investor ready to inject €200mn.

Host UAE planned to use COP28 for oil deals

by Roberta Harrington in Los Angeles November 29, 2023

COP28 host, the United Arab Emirates, has planned to use its status at the UN annual climate conference in Dubai to make new oil and gas deals with as many as 15 member nations, according to leaked briefing documents obtained by the BBC.

Baltic foreign ministers boycott OSCE meeting to be attended by Russia's Lavrov

bne IntelliNews November 29, 2023

Host North Macedonia and Bulgaria have suspended Western sanctions to allow Lavrov to fly into the Nato member state for the OSCE conference.

Protest at Polish-Ukrainian border escalates as farmers join in

Wojciech Kosc in Warsaw November 29, 2023

Protesters said they are not ruling out escalating the blockade to cover all eight Polish-Ukrainian border crossings.

Number of foreign workers in Hungary nears 100,000

Tamas Csonka in Budapest November 28, 2023

Falling birth rate and rising number of greenfield investments creates shortage of native workers.

Poland’s Duda swears in phoney PiS government with expected lifetime of two weeks

bne IntelliNews November 28, 2023

Poland’s President Andrzej Duda swore in a Law and Justice (PiS) government led by Mateusz Morawiecki on November 27 despite the proposed cabinet’s clear lack of majority in the new parliament that emerged after last month’s election.

EC President Michel to hold key talks with Orban in Budapest

Tamas Csonka in Budapest November 27, 2023

Orban has continued to threaten to block additional support for Ukraine, the start of Ukraine's EU accession negotiations, and a new round of sanctions against Russia.

Failure to deal with causes of 1990s wars threatens peace in ex-Yugoslavia, says Council of Europe

bne IntelliNews November 24, 2023

New report warns rise of right wing extreme nationalist groups are a "serious risk factor" in the region and undermine efforts to preserve peace.

European Commission approves Hungary’s updated recovery plan, paving the way for transfer of €0.9bn tranche

Tamas Csonka in Budapest November 24, 2023

Hungary will only receive remaining €9.5bn of the RRF payments when it meets 27 “super milestones” in order to ensure the protection of the union's financial interests.

Gotion InoBat Batteries JV to build gigafactory in Slovakia

Albin Sybera November 24, 2023

Chinese-Slovak joint venture to build 20 GWh battery plant that will employ 1,500.

Muddy Waters note sends CPI stocks and bonds plummeting

bne IntelliNews November 23, 2023

Short-selling hedge fund accuses Czech property group of misstating value of assets.

Hungarian government takes aims again at foreign funding of opposition

Tamas Csonka in Budapest November 23, 2023

Acceptance of foreign funds for political purposes, or the attempt to conceal them, would be punishable by up to three years in prison.

Hungary's central bank cuts base rate by 75bp to 11.5% as expected

bne IntelliNews November 22, 2023

Strong disinflation and the stability of financial markets allow the National Bank to continue monetary easing, but external risks continue to warrant a cautious approach, MNB deputy governor Barnabas Virag said.