Orbán: Economic growth fell quite badly in the second quarter
Hungary’s economy is expected to return to a growth path in the third and fourth quarters this year, while inflation is also expected to drop, the prime minister told public radio on Friday.
The root of Hungarian inflation is war, Viktor Orbán said in his Friday morning radio interview. He added that in a non-war, non-sanctioned environment, the Hungarian economy could also show its better side. According to him, no one, with the exception of the Vatican and Hungary, takes a pro-peace stance.
There are three things to do to tackle inflation. First, protect jobs. Then bring inflation down. The price speculating multinationals must be forced not to raise prices unnecessarily. This has been fought by the government with price caps and the Competition Authority. Inflation will be in single digits by the end of the year, according to the Prime Minister.
The third thing to do is to grow. This requires a wage increase, while inflation must be brought down. To do this, it is important that the Hungarian economy can return to its pre-war path. “Economic growth fell quite badly in the second quarter,” he said. But the good news is that we’ve moved beyond that and the third quarter is noticeably better, Orbán said.
“You can see that work does not stop in the summer, in this economic climate, holidays are not affordable for some key ministers,” he said. “We want to reach a positive zero by the end of the year”, he said, referring to economic growth. When inflation gets into single digits, sometime between October and December, it doesn’t mean you can sit back, because it’s still very high.
He predicts inflation of five percent next year.
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4 Comments
The root of Hungary’s highest inflation in Europe is Victor Orban
So, who or what shall we blame this time? The list can be very long. Let’s see: Soros, Brussels, Biden, Romania, the Communists, the Jews, the Moslems, the migrants, the Gypsies, Trianon, Franz Josef, the Turks, Mohacs, the Mongols, the Bavarians, Mickey Mouse, Donald Duck. Just pick one,makes no difference which one, you will still have a large audience who is going to buy whatever story the 5XL gang leader sells to them. After all, it is Orbánistan.
The Orban Government, from prior to February 2020, the “arrival” with DEVASTATION effects throughout Hungary, of the Novel Corona Virus, then the Russian War on the Ukraine, they had set Orban & Varga us Hungary, on an Economic & Financial path, that was WRONG.
Orban & Varga – “were put on notice” by EXPERTS – of greater Economic & Financial CV”s that they and there Government had within there Financial & Economic Ministry, headed by Varga, that they in fact, we see it RIGHT now, and it WORSENS, had set Hungary on a path, that the slightest variation to Europe and Globally, in Financial Markets inclusive of Currency, would send Hungary into a destabilized position, that would resemble a Financial & Economic MESS.
Orban can’t reverse this Free Fall in the Hungarian Economy, that remains WITHOUT any European Union Funding, and Foreign Investment nor CONFIDENCE large scale in the population of Hungary.
Growth in the Hungarian Economy – growth in the Capital worth of Hungary – then Inflation as we KNOW it, a property market on the brink of collapse, through sellers over buyers “smothering” the market, dissect ALL the CORE componentry of the Orban “created” present Economy, and it ALL is under DURESS in a downward pattern.
THOSE that really know are being RIGHT, have been pre February 2020 totally RIGHT, that Hungary, through Orbans “sign offs” the Economic outlook short & long tern for us as a country is confronted that resembles darker times we face.
Are there going to be further country’s leaving Hungary from what they presently produce – causing work place number loses ?
Orbans Government “strangulated” or cashless to make NEEDED investments into Public Services in Hungary – Hospitals, Social Services, Education, plus “others, they have no money to INVEST into Hungary.
LOOK at the Big Picture, without returning to the CORE of DEMOCRACY as a country, remaining a member of the European Union, if we as a country THINK under Orban we can independently, as a country SURVIVE – grow be attractive to investment, have overall improvements in the quality of our own lives, see future for our children our grand-children, and Public SERVICES – health, education, hospitals & “other” if we continue to support the Orban way forward for Hungary, we descend DEEPER into a “Mire” that rapidly we sink, as a country.
… Hoping that the general economic environment in Europe will carry Hungary with it. The good times are just around the corner, as always. And in the meantime, our Politicians will “protect” us from all the “attacks” – mostly fabricated – as they have for over a decade! They could not possibly be accountable, somehow?
Now it is “The Multinationals” to blame – the same ones for which our Politicians could not possibly increase our Europe´s lowest 9 percent corporate tax rate (or they will leave???), even as the world agrees 15 percent should be the minimum. Perplexing.