Right after the system change in 1990 they removed most of the soviet or communist monuments. Statues, sculptures, red stars, posters etc. This monument remained on the Szabadság (liberty) square. Remembering the soviet soldiers that has died during the Budapest battle in 1944. Nowdays there is a lot of tension around this monuments. Rioters tried to destroy it two years ago thats why you can see the fence around it.
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Zsolt:
Nice photo!! I took one of this monument while I was visiting the statue of U. S. General Bandholtz in the same park. There were several protest signs then too.