Hungarians need more money to make ends meet, owing to soaring inflation
A recent survey conducted by Egyensúly Institute reveals that Hungarians are becoming increasingly pessimistic about their financial situations. People find themselves in need of greater financial resources to cover their monthly expenses. Unfortunately, only a small number anticipate receiving a wage raise or any other additional income to bridge this gap. As a consequence, some individuals may struggle to keep their homes adequately heated during the winter.
How much money is necessary for survival?
According to 24.hu, reported that Hungarians require a minimum of HUF 250,000 (EUR 645) each month to meet basic needs. To lead a comfortable and worry-free life, this figure more than doubles to HUF 600,000 ( approximately EUR 1,550). The last survey was conducted in June, and since then, the population has grown even more pessimistic. The percentage of those expecting a decrease in income over the next three months has risen by 6 percentage points. The majority of people, 63%, believe that their monthly incomes will remain unchanged.
Rising costs
Despite the acknowledgment that HUF 250,000 (EUR 645) is the bare minimum required, the cost of living an average life exceeds this amount. The average cost of living in Hungary is estimated at around HUF 400,000 (EUR 1,030). As mentioned earlier, a comfortable life comes with a price tag of HUF 600,000 (EUR 1,550). This figure is significantly higher than what people indicated at the beginning of summer. In the previous survey, respondents stated that HUF 500,000 (EUR 1,290) was sufficient for a comfortable life, which is approximately HUF 100,000 (EUR 260) less than the current study has revealed. The average cost of living has also increased by HUF 50,000 (EUR 180). These figures may be startling, especially considering that the previous survey was conducted just a few month ago. Inflation has been running high in Hungary, but experts are making positive predictions for 2024, as we have reported HERE.
A bleak perspective
The survey has also disclosed that 4% of the population has no income, while an additional 46% earn less than HUF 250,000 (EUR 645). Nearly half of the population relies on financial assistance from family and friends to make ends meet. 37% of the population earns a salary between HUF 250,000 (EUR 645) and HUF 400,000 (EUR 1,030). Respondents were also asked if they could comfortably cover an unexpected expense of HUF 100,000 (EUR 260). The majority of them would encounter difficulty covering this additional expense without any trouble.
62% of the respondents indicated that they will be able to pay their heating bills during the winter. However, it is disheartening to note that 25% will be unable to maintain heating at all times, and an additional 9% cannot afford to cover the heating bills and reside in a warm home. We have recently reported on a shocking ranking that suggests that Hungary is among the poorest countries in Europe.
While having some confirmation of what others are feeling is welcome, what are the solutions? How do we compare to other countries regionally? And is the disparity as sharp in the countryside compared to the city?
Wages can’t increase if employers don’t have more revenue. And they can’t have more revenue if their customers are living paycheck to paycheck. Who has the ability to put more money in people’s pockets?
Is there anything the government could do? I wonder if 27% VAT coupled with a 50% social wedge that applies from the first forint earned is part of the problem as it’s limiting investment, disposable income, and opportunities. Is high central taxation, limited means of municipal revenue, and growing bond debt service part of the problem?
Social Inequality – defined, that the RICH in Hungary continue to get Richer and the POOR in there thousands – get Poorer, and it will WORSEN.
Orban “mouths off” that we, the Government I led, are a Government of the PEOPLE.
Do you HONESTLY believe Orban leads Hungary :
(1) – what’s best FIRSTLY for Hungarians – the citizens individually FIRST ?
then secondary :
(2) – what’s best for Hungary ?
The better part of 14 years, remembering this is Orbans second go or “coming” as the Hungarian Prime Minister, Hungarians have swallowed, ingested the “propaganda” – that throughout his term of leadership, embroiled in continual controversy, in Hungary, Europe and the Global World, giving him the “deeply” scared and bruised image that he rightfully deserves, principally through the BLATANCY of his abandonment of DEMOCRACY, returning structures of Hungarian life, governmental rules and law, that reflects practices “forced” on the people of Hungary, in the “infamous” period of our history under Communism 1945-1989.
The political ideas and philosophy of Victor Orban and Fidesz as a Political Party – look back in time of 14 years, look back into History, as it NEVER lies, the never been the PEOPLE of Hungary first, that has just, pre the Corona Virus “arrival” of February 2020 in Hungary, and post that time, up to October 2023, through the on-going Orban political alignment – philosophies and ideas, and his “playing out” practices, has FEED hugely of gargantuan proportion into the Social Inequality “malignancy” that is AGAIN invading the Hungarian population.
The RICH of Hungary continue to get RICHER, and the POOR, growing rapidly, continue to grow POORER.
History – “into a mire” a country in a “crumbling” economy, that sees the structures exampled in Hungary, of middle class down – the homeless, poor and needy, the lesson in Hungary’s history and universally / Globally is it “into a mire” we descend.
The nadir, of this descent in HUNGARY, that’s a HORRIFIC picture growing as I write, that is rapidly becoming a cataclysmic human – Hungarian disaster.
Orban – will not RIGHT this “into the mire” we SINK.
Orban – will not RIGHT the HORRENDOUS growth of Social Inequality that factually has taken place in Hungary, under his time(s) as Prime Minister.
The EVERY day needs of Hungarians, all classes, but in particular the lower poorer “brothers & sisters” of Hungary, that SHOULD be the PRIME focus of a GOVERNMENT, under a DEMOCRATIC practice, which Hungary, we are no longer a DEMOCRACY, which FEEDS our “into the mire” position.
Hospitals, all Public needs of Medical and Dental and “other” services, Public Transport, Education that is in a “Tsunami” place in Hungary – the LIST that the NEEDS – the rightful correct human society NEEDS – that have LITERALLY been in high number NEGLECTED by the Orban Government is appalling.
Hungary as a country we NEED yesterday – BILLIONS of Forints – for the rising, the elevation of us as a country, into the 21st century and beyond – our FUTURE.
Example of Billions NEEDED.
I travelled on Tram 17 from Moricz Zsigmond korter to Savoya Park yesterday.
Looking out the tram window at the tram track “decaying” condition horrified me – from Moricz Zsigmond korter to Budafok kocsiszin.
WHERE is funding going to come from sooner than later – to up-grade this major stretch of tram rail that has multiple tram number services and carries thousands of Hungarians on it DAILY ?
WE are “in a mire” – the widening deepening of its IMPACT that being Social Inequality in Hungary, under a Government headed by Victor Orban – that continues to erode lessen down-grade our life-style, our Public needs of services – our quality of lives.
It is RAMPANT.
Is there a VOICE against what I believe are these FACTS happening in Hungary ?
WHY in BILLIONS are we Hungarians BEARING this???
Is the TRUTH found in what the former President of the United States of America – Bill Clinton, when he stated that DEMOCRACY – is to difficult for Hungarians, to get there “head around” and just “pass it by” revert back to there past of Political Governance ?
Hungarians “into the mire” the landscape scene we are in and by US remaining “passively” silent that “mire” will sooner than later ENGULF us.