makro-gazdasagpolitikaEven from space, it is clear how serious the situation is in Paks.
New satellite images have been taken of the Danube near Paks, where the extremely low water level makes the changes very noticeable.
Macro and economic policy
427 articles
Featured Analysis
Energy crisis: record heat, slightly higher Danube, drying streams and ongoing energy and water conservation nationwide
Today, record-breaking heat is being experienced, but the Danube water level has improved, exceeding Sunday’s low point by nearly 10 centimeters, and one block of the Paks Nuclear Power Plant is operational. A positive development is that Hungary will receive the guaranteed Danube water volume guaranteed in international agreements, while Slovakia is prepared to release some additional water. Many organizations across the country are continuing to conserve energy and water due to the heat. We can continue to follow the developments.
Latest Dispatches
makro-gazdasagpolitika
makro-gazdasagpolitikaThe JÉGER system is shutting down in several counties: a surprising area also experiences high levels of disagreement regarding the issue.
According to a survey conducted by the National Agricultural Chamber, 66.1% of farmers voted to discontinue operation of the National Ice Protection System (JÉGER), while only 24.5% supported its continuation. Responses favoring continued operation were more common in western counties, allowing it to operate under stricter conditions, while in other areas, generators were not started. The survey also examined online interest in the system.
makro-gazdasagpolitikaCompanies and local governments are increasingly implementing energy-saving measures.
More and more companies and local governments are announcing that they will implement austerity measures due to the expected energy crisis in the coming days or weeks.
makro-gazdasagpolitikaA turning point in the battle between the capital and the state: Budapest gains a new chance
A Budapest city council has received a favorable court ruling, which gives it the opportunity to be free from the billions of forints in debt. The court overturned the initial ruling, allowing a proper investigation into the case. Gergely Karácsony urges the government and the city to reach an agreement to resolve the financial problems, but the negotiations are not progressing as expected.
makro-gazdasagpolitikaThe crisis is so severe that the European Commission could call an extraordinary meeting due to Paks.
According to Euronews, the European Commission (EC) is expected to convene an extraordinary meeting of the Electricity Coordination Group soon.
makro-gazdasagpolitikaThe situation is critical: one of the most important European trade routes could be completely paralyzed.
Due to the heatwave and prolonged drought, the Rhine’s water level in Germany dropped to record-low levels on Friday, but cargo ships are still operating on the river – Reuters reported.
makro-gazdasagpolitikaGood news: despite the suffocating heat and drought, surprising news has arrived from Hungarian lands.
According to a report published on the website of the Agricultural Economic Institute (AKI), the yields of several fruit crops have also increased compared to the previous year.
makro-gazdasagpolitikaMagyar Péter is preparing a major announcement
Prime Minister Magyar of Hungary will hold a press conference at 3 pm today regarding the shutdown of the Paks Nuclear Power Plant. The plant is currently operating at approximately 50% capacity, but further restrictions are being imposed due to the low water level in the Danube. According to the announcement, the nuclear power plant will be completely shut down on Monday.
makro-gazdasagpolitikaHow does the shutdown of the Paks nuclear power plant affect the Hungarian economy?
Due to cooling problems at the Paks nuclear power plant, a complete shutdown is expected, which will have an impact on the Hungarian economy. The plant’s contribution to GDP is approximately 0.5 percent, so the loss of production itself will not cause significant growth problems. However, replacing the lost capacity with imports could worsen the external balance, and inflation could increase by more than 1 percentage point due to rising wholesale electricity prices. The government is encouraging economic actors to reduce consumption, as this would reduce dependence on imports. The adaptation to the market is expected to have a painful impact on economic performance.
makro-gazdasagpolitikaForint is suffering from a shortage of energy.
Yesterday, the Japanese central bank’s intervention in the foreign exchange market caused the yen to strengthen against the dollar by more than 2 percent, while the dollar also weakened against the euro. Throughout the day, news related to the energy crisis, the movement of the Japanese yen, and incoming macroeconomic data were of particular interest.
makro-gazdasagpolitikaThe forint is weakening
The Japanese central bank’s intervention in the foreign exchange market caused the yen to strengthen against the dollar by more than 2 percent, while the dollar weakened against the euro. The focus of market attention is on the energy crisis, the yen’s movement, and incoming macroeconomic data. The euro is trading at around 362 forints, and the dollar is trading at around 315 forints.
makro-gazdasagpolitikaMagyar Peter: the Paks Nuclear Power Plant will completely shut down on Monday.
Magyar Péter announced that the Paks Nuclear Power Plant will be completely shut down on Monday. However, it may be possible to restart the Dunamenti Power Plant unit in time. He told companies that everyone will benefit if they voluntarily reduce their electricity consumption. The critical period begins on Monday.