The government will increase pension payments during the year if the war in Ukraine drives Hungary’s inflation higher than expected, a state secretary of the finance ministry said in an interview published by daily Magyar Nemzet on Wednesday.
András Tállai said the government “must pay special attention to pensioners, and the ministry is monitoring inflationary trends. If needed, an unscheduled pension hike will be made in the summer,” Tallai said, adding that another hike could follow in November.
Tállai insisted that if the opposition won the April 3 election, “they will scrap 13th month pension and the cap on utility fees, which could increase pensioners’ household bills fourfold”.
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Source: MTI
1 Comment
Inflation was rising before the war in Ukraine. The war made it worse. This inflation is global, not just in Hungary. It is about the problems in the global supply chain that are creating this, plus the massive spending by the central banks all over the world.