The Economic Committee of the Parliament has accepted the 2024 report of the Hungarian Competition Authority

According to the statement, Csaba Balázs Rigó, President of the GVH, said at the meeting: the competition authority closed 98 cases last year, imposed a total of 4.3 billion forints in fines, and also granted a 2.5 billion forint reduction in fines to cooperating enterprises.

According to the statement, the Hungarian competition authority is also outstandingly active in international comparison in the fight against cartels, especially public procurement cartels involving public funds. Last year, 19 cartel proceedings were ongoing, the national competition authority initiated eight new cartel cases and closed three major cartel cases, in which it imposed a total of more than 2.5 billion forints in fines. The GVH examined 1,550 tenders in the framework of its ongoing cartel proceedings in 2024. Of these, approximately 1,000 tenders also involved the use of public funds, for example in the framework of public procurement procedures.

Last year, the GVH closed 21 consumer protection proceedings, which accounted for almost 40 percent of the total fine amount, 1.7 billion forints. During their consumer protection and education activities, they paid particular attention to the targeted protection of children and families, but also paid attention to the interests of the elderly and the sick – they emphasized in the statement.

In his report, the President of the GVH mentioned that the most prominent trend in the digital space was the explosive spread of artificial intelligence (AI) last year. The competition authority also recognized the trend, and its staff examined the competition law and consumer protection effects of the technology in a comprehensive market analysis. The GVH’s targeted proposals can be utilized in the renewed domestic AI strategy.

Companies announced 67 mergers last year, almost 30 percent more than in 2023. The combined annual revenue of the target companies involved in the transactions exceeded HUF 1,000 billion for the first time in the history of the GVH. About 90 percent of the mergers approved in 2024 were closed within four days by issuing an official certificate.