NewsLetter

Government cuts VAT on fuel from 25% to 20% to mitigate price increases

The government will bring forward a VAT cut on motor fuels originally planned for 2006 in order to curb the effect of recent steep price increases, prime minister Ferenc Gyurcsany announced. The move will lead to an immediate reduction of around 4% in gasoline and diesel prices.

APV continues Budapest Airport privatization, but ready to announce new tender

Privatization agency APV says it is prepared to continue the privatization process of airport operator Budapest Airport (BA) in line with its original plans, but the agency has also started preparing a new tender process in case an ongoing court case does not turn out in its favor.

Retail network expands 0.4% y-o-y in H1 2005 - fluctuation remains high

There was a 0.4% increase in the number of retail units in Hungary during the first half of 2005 compared to the same period of last year, according to data released by the Central Statistical Office (KSH) Monday. The increase over Q1 this year was just 0.1%.

GKI: Online retail turnover could grow 50% to HUF 18 billion this year

The turnover of online retail stores in Hungary could rise another 50% to HUF 18 billion (USD 93 million) this year after reaching HUF 12 billion in 2004, according to a study by research institute GKI, conducted in cooperation with T-Mobile and Sun Microsystems.