Hungary falls behind Austria, competes with Bulgaria to avoid last place
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In 2010, Hungary was 46 percentage points more developed than Bulgaria, the poorest EU country. By now, the Balkan country has made up at least half, and by some estimates two-thirds, of their deficit. In 2023, the Hungarian economy contracted, while Bulgaria’s GDP continued to grow. Although the ministers of Fidesz have been promising for years that Hungary will catch up with Austria in terms of development, this will not happen anytime soon.
Bulgaria keeps reducing its gap with Hungary
Since 2010, Hungary’s economic advantage over Bulgaria has decreased significantly, and Bulgaria has been steadily reducing its gap with Hungary despite its political instability, 24.hu reports. When Fidesz came to power in 2010, Hungary’s economic development was significantly higher than that of Bulgaria, then the poorest member of the European Union. The gap was 46 percentage points. Since then, Bulgaria has made a lot of progress – Hungary less so.
Although the oft-voiced goal is to catch up with Austria, it seems that our main competition is not Austria, but Bulgaria, with whom we are competing to avoid the last places, 24.hu writes.
How did Bulgaria make such a major progress?
Bulgaria has managed to improve its economic situation despite political instability. According to Péter Krasztev, associate professor at the Budapest Business University (BGE), this may be because the frequently changing Bulgarian governments have not been able to influence the economy to the same extent as in Hungary. Bulgarian political forces have been able to unite around their commitment to Europe, which has contributed to the country’s European catch-up.
Bulgaria has functioned better since it did not have a stable government,
Romania has “Jumped” us.
Hungary – through the floor, the core of the earth we PLUNDER.
HUMILIATING.
Orban, Varga and Szijjarto – Prime Minister, Finance Minister and the Minister of Foreign Affairs and Trade – just MOUTHING off, we are travelling in the positive direction in our Economy and from Investment Foreign in Hungary.
Appalling – propaganda that are LIES.
Absolutely – the reversal of FACT, what is FACTUALLY occurring in our Economy, the outlook CLEAR future picture of the Hungarian Economic & Financial “landscape” is in a depressive heavily weighted TRENDING cataclysmic DISASTER.
The Orban Government growing WIDESPREAD pressure is MOUNTING against them, from in-side Hungary, that is NEEDED to intensify, the ZONES in on FACTS and the Fabrication, the Lies that just keep coming out the mouths of the Orban Government from its appointed Ministers, the gargantuan leader main offender being Victor Mihaly Orban.