VOL. 31. NUMBER 18 | OCTOBER 6 – OCTOBER 19, 2023
HUF 2,100 | EUR 5 | USD 6 | GBP 4
HUNGARY’S PRACTICAL BUSINESS BI-WEEKLY SINCE 1992 | WWW.BUDAPESTBUSINESSJOURNAL.COM
SPECIAL REPORT INSIDE THIS ISSUE
Energy
Szijjártó: Nuclear Power Could Mean More Energy Security for Hungary The construction of additional nuclear power units at Paks is on schedule and on course to make Hungary more competitive while protecting the environment, Minister of Foreign Affairs Péter Szijjártó insists. 16
Is Cabinet Mulling Action on Fuel Costs to Boost Growth? Could the government be mulling another intervention to limit fuel prices in a short-term bid to boost growth, consumption and the value added tax take? 17
‘Unity and Cooperation’
SOCIALITE
Smile, You’re in Hungary Now! If you see rather more people on the streets of Budapest beaming from ear to ear today (Friday, Oct. 6) than usual, today is World Smile Day, dreamed up by the man who created the internationally recognized bright yellow smiley face, and Hungary is one of the countries grinning for good. 25
FOCUS
Businesses value stability, transparency, and a level playing field. German investments in Hungary have been a success story for decades, says Ambassador Julia Gross, one she wants NEWS to build on, despite some Retail Trade Likely challenges. 10
to Drop Further Hungary’s retail sector is still in decline, with the August data weaker than expected. Analysts thought domestic consumption would pick up from the previous month, but instead, it contracted further. This is not likely to change until real wages start to increase. 3
BUSINESS
AutoWallis Balancing Growth and Chinese Competitors Public investor day reveals that, despite “robust growth” for AutoWallis, the industry cannot ignore the advance of Chinese competitors on the Hungarian and regional automotive markets. 7