September 2008

Alba Airport Gets Go-ahead

Hungary's building authorities have given the green light for the start of construction at the Alba Airport, near Szekesfehervar.


Kopint-Tarki Lowers Growth Forecast for 2009 to 2.8 pct

Economic think tank Kopint-Tarki has kept its projection for Hungary's 2008 GDP growth unchanged at 2.2 pct, but lowered its projection for 2009 growth to 2.8 pct in its latest forecast, down from 3.0 pct in the previous one published in June.


Government Package to Reduce Taxes by HUF 205 billion in 2009

The government's tax package will reduce the tax burden by a gross HUF HUF 205 billion (EUR 854 million) next year, under the originally planned HUF 260 billion (EUR 1.083 billion).

Parliament Makes EUR 25 million Underground Car Park Matter of National Security

A parliamentary committee has made plans to build a HUF 6 billion (EUR 25 million) car park underneath Kossuth Square, in front of the parliament building, a priority project in the interest of national security, business daily Napi Gazdasag reported on September 19th 2008.

Construction Output down Adjusted 12.8 pct yr/yr in July

The output of Hungary's construction sector fell 12.8 pct yr/yr in July after a 9.0 pct decline in June according to workday-adjusted figures. Unadjusted figures show a 11.8 pct decrease after a 8.1 pct, the Hungarian Central Statistical Office (KSH) said on September 18th 2008. 

Andrassy Boulevard draws more luxury brands

September 17th 2008

Though Hungarians' purchasing power has dropped, Budapest's Andrassy Boulevard is drawing more luxury brands: Gucci will open a shop in a few days, and Armani will follow by year-end, business daily Napi Gazdasag reported on September 17th 2008.

Chinese and Hungarian Investors Plan Airport near Border With Austria

Hungarian and Chinese investors plan to build an airport near the Hungarian city of Szombathely.


Plaza-Building Boom Still Healthy in Hungary

The plaza-building lull this year is short-lived as ten new malls will be completed in Budapest by 2011. 

Government Guarantees HUF 90 billion Co-Payment toward ESS

Hungary's government would guarantee a co-payment of EUR 375.42 M toward the establishment of the European Spallation Source.

Hungary Government Asks Austria to Move Planned Incinerator Away From Border

Hungary's government decided on September 10th 2008 to ask Austria to move a waste incinerator planned to be built in the Austrian town of Heiligenkreuz further away from the Hungarian border, Environment Minister Imre Szabo said.

News Monitoring