Romanians outperform Hungarians, only the Bulgarians live worse than us
Romanians, Slovakians, and Poles are way ahead of the Hungarians in terms of standard of living, a new research shows. That contradicts the Hungarian government’s communication that Hungary is an economical leader in Central Europe.
Only Bulgarians live worse than us
According to Szeretlek Magyarország, an average Hungarian spends 72% of the EU’s standard level on consumption, which is 16% less than an average Romanian does. Based on the survey by Eurostat, Hungarian food prices neared 90% of the EU’s standard in 2022.
According to the EU’s statistics body, the main reason for the EU-top Hungarian inflation is the skyrocketing food prices. For example, we had to pay 100% more for butter and bread in December 2022 than in January. August marks the 12th month when the Hungarian inflation is the European Union’s highest.
In 2022, food prices grew to 89.9% of the EU average. In Austria, they stand at 107%, and in Slovakia, at 102%. But in Poland, they reach only 74% while that exact figure is 72% in Romania. According to the GKI, we can buy less with Hungarian salaries compared to Romanians or Slovakians.
- Hungarians do their grocery shopping in Romania – Read our article HERE
Romanian government made better choices
The research data also shows that the standard of living was only worse in Bulgaria in the European Union. Romania was well beyond Hungary in 2010. However, by 2022, they preceded Hungary concerning the level of salaries and, in 2023, that difference will continue to widen. And that is true of the Poles, as well. László Molnár, the CEO of the GKI Economic Research Co., said an average Hungarian spent 16% more on consumption than an average Romanian.
According to G7, a Hungarian economic news outlet, the development of the Romanian IT sector, aided by unprecedented state supports since 2001, contributed a lot to the catch-up process. Romania abolished the personal income tax for individuals working in the IT sector, which basically made Romania Europe’s IT hub. Today, Kolozsvár (Cluj Napoca) in Central Transylvania hosts 13,000 IT companies.
According to calculations, the PIT the country lost returned with the investments of foreign IT companies. Hungary chose a different path. The Orbán cabinet is targeting to develop the processing industry. They aim to attract German carmakers and Chinese battery producers. However, the latter doesn’t create high-added-value jobs. Instead, the government helps them import Asian guest workers because skilled Hungarians leave the country to work in West Europe, many in the IT sector.
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6 Comments
Gee to hear some pundits talking, the poor Ukrainians live far worse than anyone in the European continent.
Some trolls posting comments do not even know that Ukraine does not belong to the EU. This article deals with EU members, among which, save for Bulgaria, Orbánistan is the poorest.
Quite an embarassment for the 5XL Viktator and his gang.
Not one mention of the popular website comparing prices of basic staples, nor the goal to reduce inflation to single digits by the end of the year. Let’s better informed and optimistic, Magyars!
Re-elect the worst leader in the EU and this is what happens….
You wanted him, dear Hungarians…. and now you have him doing what he’s always wanted… impoverishing the people and enriching himself.
Fidesz dominance of all media in Hungary ensures that the population behave as sheep believing the Fidesz government promotes their interests while the causes of all of their problems are all external and not due to Fidesz mismanagement and corruption. Sooner or later Hungarians will wake up. Eventually even the Bulgarians will live better while Orban will continue to wave the flag and make speeches about George Soros, Brussels, the evil US., globalists, and the dreaded liberals who are out to corrupt your children. Hungarians deserve what they get as long as they keep voting for Fidesz.
Romanias public deth has richd 160 billion euros , so they are in very bad path.