27 January 2022, Budapest - The Hungarian Competition Authority (GVH) has published its Flash Report on competition on the Hungarian market, which summarizes last years’ results, that it presented to the public in an online professional conference.
The GVH has published its Flash Report summarizing the results and experiences of competition supervision in 2021 on its website. Last year, the Hungarian Competition Authority introduced a regular information booklet for transparency, various aspects of which were discussed at an online professional conference, with the participation of Anikó Raisz, State Secretary for Administration at the Ministry of Justice, Erik Bánki, Chairman of the Parliamentary Committee on Economic matters and with the assistance of representatives of construction companies and competent sectoral authorities.
In 2021, the GVH initiated 51 competition supervision proceedings, almost 25 per cent more than in the previous year, in which 124 undertakings were investigated. The Authority’s work over the past year has highlighted actions against cartels, analysis and intervention in the construction industry and the detection of abuses related to the COVID-19 pandemic.
The Competition Council of the GVH found infringement in 28 cases out of its 38 decisions last year, in the course of which it imposed fines on a total of 62 undertakings, amounting to a record HUF 18.2 billion in the history of the GVH. Nearly 90% of the amount of the fine (HUF 16.3 billion) was imposed for the most serious competition law infringements, anticompetitive practices and cartels. With this performance for safeguarding competition, Hungary ranked first among the member states of the Visegrád Cooperation in 2021. The GVH is currently investigating 21 cases related to anti-competitive practices, which is a key part of the competition supervision work.
Of the total fines of around HUF 2 billion imposed last year for unfair business-to-consumer commercial practices, a significant part, HUF 449 million was imposed for misleading practices related to the coronavirus pandemic.
Due to the increase in prices in the construction sector, in addition to the ongoing competition supervision proceedings in the sector, accelerated sector inquiries, introduced in the summer, have been a new tool for competition authority action. Through accelerated inquiries, the GVH is able to effectively reveal the causes of market distortions in a short period of time, which can only be identified by a comprehensive, lengthy analysis of multi-player supply chains. Based on the results of the rapid analyses, the GVH can take the necessary competition supervision measures and make recommendations to market players and the legislator in order to take the necessary market intervention.
The publication ’COMPREHENSIBLE INFORMATION ABOUT COMPETITION ON THE HUNGARIAN MARKET – Flash Report on the activities of the Hungarian Competition Authority in 2021’ is available on the website of the Hungarian Competition Authority:
GVH Press Office