In an interview, Minister of Finance Mihály Varga pointed out that by the end of the 2020s, the European Union will have fewer benefits for Hungary than disadvantages.
Mihály Varga gave an interview to atv.hu. In it, he explains that the quarantine rules for the coronavirus epidemic have been lifted, demand has increased, and prices have risen as a result. The price of petrol, food, fruit, and accommodation have all risen recently.
“The general government deficit was lower than the EU average last year,”
Varga pointed out. In contrast, the inflation rate in Hungary was the highest among the EU Member States in the spring. The finance minister believes another wave of the epidemic is inevitable. The fourth wave of the coronavirus has already begun in several countries. New types and virus variants have already appeared in Hungary. It can be reassuring that the Hungarian vaccination rate is extremely high. According to Varga,
“there are slow, bureaucratic processes in Brussels,”
unlike in Asian countries and in the United States, which are the main economic rivals of EU countries. According to Varga, Brussels is slowing down the process due to the Hungarian child protection law. According to him, this is a political and non-economic reason, and due to this, the Hungarian economic recovery is slowed down.
Mihály Varga believes that the introduction of the euro should take place when the introduction serves the interests of Hungary and the Hungarian economy. Despite the fact that 69 per cent of Hungarians want to adopt the euro, according to the Minister of Finance, it would be very early. He added that if a decision had to be made now, he would be in favour of joining the EU. However, according to him, by the end of the decade, Hungary will be paying more money into the EU than it is taking out.
Economist Zsolt Darvas believes that even if Hungary paid more, it would not be worth leaving the EU. In addition to direct financial support, EU membership has many benefits, like foreign investment or trade, writes index. Since Hungary’s accession in 2004, it has received 500-2,000 billion more money from the EU each year than it has paid.
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Source: atv.hu, index.hu
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