Latest news with #MartonNagy
Bloomberg
26-05-2025
- Business
- Bloomberg
Hungary Warns Wage-Hike Plan at Risk From Weak Economy
Hungary's government warned it may need to renegotiate minimum wage hikes planned for 2026 due to weaker-than-expected growth, in the latest downbeat economic outlook from officials. The cabinet prefers to reconsider substantial minimum wage hikes if that would hurt local companies, Economy Minister Marton Nagy said at a conference in Budapest Monday. If economic or wage growth lags forecasts, the government will be open to renegotiating a previously agreed wage deal later this year, he added.
Bloomberg
28-04-2025
- Business
- Bloomberg
Hungary Rejects US Pressure to Reduce Its Chinese Economic Ties
Hungary won't reduce its economic ties with China, the nation's minister of economy said, in the clearest sign yet that Prime Minister Viktor Orban's government won't bow to US pressure to distance itself from Beijing. Hungary doesn't see US investments on the horizon that would displace Chinese ones, Economy Minister Marton Nagy told reporters in Budapest on Monday. One of the obstacles is that the US has yet to agree to a new tax treaty with Hungary, which the previous Joe Biden administration severed with the European Union member state.
Reuters
31-03-2025
- Business
- Reuters
Hungary should sell its stake in MBH Bank, economy minister says
BUDAPEST, March 31 (Reuters) - The Hungarian state should sell its 20% stake in MBH Bank ( opens new tab, the country's second-largest lender, in a potential upcoming share offering, the economy minister Marton Nagy said on Monday. Bloomberg reported last week that MBH was working on a potential share offering, and that the government was mulling selling its stake in the bank. During a press conference in Budapest, Nagy confirmed that MBH was interested in going public. "This provides an opportunity for the state to sell its stake ... My personal opinion is that it would be advisable for the state to sell its stake in MBH," he said. The state currently owns its MBH shares through state-owned Corvinus BHG Asset Management. It reduced its stake in the bank from 30% last year. MBH told Reuters that it would not comment on a possible share offering or Nagy's comments. MBH was created by the 2020 merger of three banks - state-owned Budapest Bank, MKB Bank and savings group. Hungary's market leader is OTP Bank.
