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Energy crisis: record heat, slightly higher Danube, drying streams and ongoing energy and water conservation nationwide
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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

A definitive signal has arrived: the ECB is ready for further interest rate hikes. makro-gazdasagpolitika

A definitive signal has arrived: the ECB is ready for further interest rate hikes.

According to Peter Kažimír, a member of the Governing Council of the European Central Bank, the central bank must raise interest rates again to curb inflation. The Slovak central bank president believes that another monetary tightening is likely in September, and has sent a clear signal to the markets that decision-makers are prepared to act.

Portfolio.hu - Gazdaság
Tax advisors reacted sharply to MKIK's new idea. makro-gazdasagpolitika

Tax advisors reacted sharply to MKIK's new idea.

The Association of Tax Advisors demands the complete abolition of mandatory chamber affiliation and registration, following the announcement by the President of the Hungarian Chamber of Commerce that fees would be adjusted according to company size. The interest group strongly protests against the transfer of individual business administration from the tax authority to the chamber starting next year - HVG reported.

Portfolio.hu - Gazdaság
The central bank of a European country is preparing for major steps and has immediately reacted to the foreign exchange market. makro-gazdasagpolitika

The central bank of a European country is preparing for major steps and has immediately reacted to the foreign exchange market.

According to internal information from Bloomberg, the Swiss National Bank (SNB) is expected to keep its key interest rate at zero until the end of 2027, and only then will it begin monetary tightening - Bloomberg reported. However, the central bank is reportedly prepared to carry out interventions in the foreign exchange market to smooth the impact of external shocks on the exchange rate.

Portfolio.hu - Gazdaság
Hundreds of thousands have been evacuated: According to European leaders, the devastating "new normal" has arrived. makro-gazdasagpolitika

Hundreds of thousands have been evacuated: According to European leaders, the devastating "new normal" has arrived.

The intensity of forest fires, involving over 300,000 people, has slightly decreased in France and Spain, but firefighters have little time to rest as the fourth heatwave of the summer approaches. Authorities are currently working to contain the fires before the next heatwave hits Western Europe on Tuesday, according to Bloomberg.

Portfolio.hu - Gazdaság
Magyar Peter talks about further tax reductions makro-gazdasagpolitika

Magyar Peter talks about further tax reductions

The extraordinary parliamentary session began with a speech by Prime Minister Magyar Peter. He emphasized that a decision will be made regarding the reduction of the VAT on firewood. During the day, a new member of the Constitutional Court was also elected.

Portfolio.hu - Gazdaság
Pensioner food vouchers: the government may set a new deadline makro-gazdasagpolitika

Pensioner food vouchers: the government may set a new deadline

The government has put the draft regulations out for public consultation, which provides an extension until August 31, 2026, for food retailers who have not redeemed their remaining senior citizen food vouchers. The reimbursement process will be handled by the Hungarian State Treasury, which will verify the authenticity of the vouchers and then reimburse their nominal value.

Portfolio.hu - Gazdaság