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Government Make Concessions on Foundation Universities, Request EUR9.4bln of RRF

HUNGARY
  • Hungary will also ask for the EUR9.4bn credit leg of the EU's Recovery and Resilience Facility (RRF), according to a government decree issued on January 25. The government had previously explained its decision not to draw the credit line as coming from its commitment to fiscal prudence. Bne IntelliNews say the majority of the funds would be allocated to support the green transition as part of the REPowerEU initiative to reduce dependence on Russian fossil fuels and move forward with the green transition.
  • MTI report that amendments to legislation addressing concerns aired by the European Commission over the boards of trustees of foundation universities in Hungary are expected to be approved by lawmakers in March, Regional Development Minister Navracsics said after meeting with commissioners in Brussels on Wednesday. This would pave the way for the removal of government-appointed politicians from the boards of trustees Hungarian universities operated by public-interest asset management foundations.
  • Hungary must enter a more investment-intensive era in the energy sector, and the government plans to increase spending by five-fold in the next seven years accordingly, the minister for energy affairs said as cited by MTI.
  • Central bank Deputy Governor Virag will speak at a book presentation at 1300 GMT/1400 CET. There are no major economic releases scheduled today.
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