Business news from Ukraine

Business news from Ukraine

New President Has Been Elected in Hungary

András Baku has become Hungary’s new president, according to Hungarian media reports.

“On Tuesday, the Hungarian Parliament elected 73-year-old lawyer and former Chief Justice of the Supreme Court András Baku as the country’s new president,” the reports state.

It is noted that 140 lawmakers voted in favor of his candidacy, while six voted against it. Representatives of the former ruling coalition, Fidesz—the Christian Democratic People’s Party—had announced in advance that they would not participate in the vote.

Hungary’s new Prime Minister, Péter Magyar, has repeatedly stated since his election in May that he intends to reform the Hungarian government; in particular, he has sought the resignation of President Tamás Szujók. Magyar believes that Szujók was not fulfilling his role and was serving the interests of former Prime Minister Viktor Orbán and his government.

Szujok refused to step down voluntarily, stating that he saw neither constitutional nor legal grounds for doing so. Later, in July, the Hungarian parliament approved a package of constitutional reforms that, among other things, provided for the president’s resignation. As a result, last week Szujok signed the constitutional amendments and stepped down from his post.

Magyar nominated renowned Hungarian chess grandmaster Judit Polgár for the position of the country’s new president, but she declined the offer.

The president in Hungary performs mainly ceremonial functions. The government is headed by the prime minister.

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In Bulgaria, Rumen Radev’s party secured decisive victory in parliamentary elections

According to the results of Bulgaria’s early parliamentary elections, the Progressive Bulgaria coalition, linked to former President Rumen Radev, came in first. According to Reuters, citing partial official results after 91.68% of ballots were counted, the coalition received 44.7% of the vote. GERB came in second with 13.4%, and Continue the Change – Democratic Bulgaria came in third with 13.2%.

According to data from Bulgarian agencies and exit polls, the Movement for Rights and Freedoms and Vazrazhdane also secured seats in parliament, while the BSP – United Left hovered around the threshold. Thus, the new composition of the National Assembly remains multiparty, though the winner secured a significantly stronger mandate than any party in recent elections.

The key issue now is the formation of a government. If Progressive Bulgaria secures a sufficient number of seats (which is highly likely), Bulgaria could see a single-party or dominant cabinet for the first time in a long while. If, however, it fails to secure a majority, the country faces negotiations on a coalition or external parliamentary support. This is particularly important after several years of political instability and frequent changes in government.

For Bulgaria’s economy, the election result is significant in terms of fiscal policy, infrastructure decisions, and managing the implications of the country’s entry into the eurozone on January 1, 2026. A strong government could theoretically accelerate decision-making on investments and reforms, but much will depend on how quickly the winner can translate electoral success into a functioning executive model.

For the region, the election results are significant due to Bulgaria’s role as a member of the EU and NATO, as well as a country in the Black Sea basin. Any changes in Sofia’s foreign policy could affect regional coordination on energy, security, and issues related to the conflict between Russia and Ukraine.

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Mátyás’s Party Wins Constitutional Majority in Hungarian Parliament

According to the results of the April 12 parliamentary elections, the Tisza Party, led by Péter Mátyás, has secured 138 seats in Hungary’s 199-seat parliament, giving it a constitutional majority, according to international media and regional sources.

The previously ruling Fidesz-KDNP coalition has secured 55 seats, while Mi Hazánk has become the third-largest force with 6 seats. Thus, the new parliament effectively consists of three parliamentary groups, while a number of smaller parties failed to clear the electoral threshold.

A constitutional majority in Hungary traditionally means the ability to pass decisions requiring 2-3-thirds of the deputies’ votes, including amendments to fundamental laws. In this configuration, Tisza formally does not need coalition partners to form a government.

Mátyás’s campaign was built around the themes of changing the political model, fighting corruption, and restoring relations with the EU. In public speeches, he used phrases such as “Ennek a rendszernek vége van” (“This system is over”), and also spoke of a “regime change” and returning the country to a more pro-European trajectory. Reuters reports that among the stated priorities are strengthening the rule of law and anti-corruption measures, including alignment with European standards and an attempt to unblock frozen EU funds.

Separately, the name TISZA has become established in Hungarian political symbolism, interpreted as “Respect” and “Freedom” (Tisztelet and Szabadság).

Source: https://expertsclub.eu/do-parlamentu-ugorshhyny-projshly-try-politychni-syly-partiya-madyara-otrymaye-konstytuczijnu-bilshist/

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Portuguese Parliament has approved stricter citizenship laws for second time

The Portuguese Parliament has once again approved a revision of the citizenship law, which tightens naturalization rules; however, the new provisions have not yet taken effect and must still undergo further procedural steps. This was reported by Portuguese media and international publications covering the repeat vote following previous remarks by the Constitutional Court.

According to published reports, the new text of the law was approved on April 1, 2026. It is a revised version of the reform that Parliament had already approved in October 2025, but some of its provisions were subsequently challenged through constitutional proceedings. As a result, lawmakers revisited the document and voted in favor of the amended version.

According to specialized legal reviews and publications on the reform, the key idea behind the changes is to increase the residency period required to obtain citizenship from five to ten years for most foreigners. For citizens of CPLP countries—the Community of Portuguese-Speaking Countries—a more lenient requirement of seven years was discussed. The reform also includes stricter integration requirements and changes to the rules governing the loss of citizenship in certain cases.

It is important to note, however, that even after this new parliamentary approval, the law is not yet in effect. As before, the bill must go through the remaining formal stages, including presidential review and publication in the Diário da República. Until then, the current rules remain in effect in Portugal, under which the standard path to naturalization for most applicants remains five years.

Thus, the information that the Portuguese Parliament has approved a new citizenship law is generally confirmed. However, it is more accurate to speak not of the new rules coming into force, but of the re-approval by Parliament of a reform that remains in the final stages of formalization.

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Serbia discusses combining presidential and parliamentary elections

According to Serbian Economist, Serbia is discussing the possibility of holding presidential and parliamentary elections on the same day, although the next elections are scheduled for 2027.

Political experts link the possible appointment of elections to an earlier date, including 2026, with the political calculations of Serbian President Aleksandar Vučić and the results of regular public opinion polls, rather than with formal calendar frameworks.

Combining the presidential and parliamentary elections could give Vučić the opportunity to head the parliamentary list and position himself as a candidate for prime minister, but the nomination of a strong candidate in the presidential election potentially creates a separate center of political capital within the ruling coalition.

At the same time, the leader of the Serbian Progressive Party, Miloš Vučević, has previously stated that combining parliamentary and presidential elections “is not an issue” on which there is currently a decision or a specific plan, and that such issues are resolved “in accordance with the law and the Constitution,” taking into account the overall political and social situation.

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Vucic announced dates for early parliamentary elections in Serbia

According to Serbian Economist, Serbian President Aleksandar Vucic said that early parliamentary elections in the country could be held in October, November, or December 2026, the Beta agency reported.

According to Vučić, the date of the elections will depend on the agreements of the political participants, if they are ready for dialogue.

Student groups have previously demanded the appointment of early elections, while part of the opposition claims that the authorities are in no hurry to announce them.

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