The Competition Authority imposed a fine of more than HUF 2.2 billion this year

According to the announcement, among other things, the separate abuse reporting system, active competition supervision, decisive action against technology giants, priority protection of families and vulnerable consumer groups, the fight against inflation and rapid merger control characterized GVH’s professional activities from 2023- in.

And the online Price Monitoring system operated by GVH since the first of July contributed to the invigoration of market competition, they added.

Summarizing the year 2023, Balázs Csaba Rigó, the president of the GVH, said in the announcement: “fair competition makes sense in all situations. This was also the case in 2023, which will go down in the history of the Hungarian economy as the year of the rapid collapse of inflation. It is expected that 2024 will be the year of the restoration of economic growth, when the protection of competition will also be of great importance.

The national competition authority wants to contribute to the preservation of fair competition in 2024 by launching the Hungarian Compliance Academy, which is a series of discussions with actors in the economy to prevent illegal behavior and focusing on education”.