Prime Minister Viktor Orbán announced a new economic programme at a meeting of Fidesz’s parliamentary group focusing on affordable housing, a one million forint income, subsidised loans for workers and capital injections for SMEs, the daily Magyar Nemzet said on Sunday.
Orbán’s speech, held at a closed meeting at the start of the parliamentary session in Esztergom, in northern Hungary, focused on economic policy and the new economic programme, the paper said. The meeting had been postponed from an earlier date due to the floods, the paper said.
Economic neutrality will bring a turnaround from 2025, and the goverment is working to achieve economic growth exceeding the European Union average, he said.
Orbán said the pandemic and the war in Ukraine had brought changes in the world, and the East was on the rise, while the West was declining. Brussels and the western world had responded by announcing an “economic cold war”, he said. That is harmful for Hungary, and the country is striving to stay out of the cold war, he added.
Orbán said the way to success was economic neutrality. Hungary needed an economic growth beyond the EU average, and that was only possible by maintaining neutrality, he said. That way, the government will be able to raise growth to between 3 and 6 percent, and so will steer Hungary towards stronger growth as soon as 2025, he said.
Photo: MTI/Miniszterelnöki Sajtóiroda/Benko Vivien Cher
The new economic policy will require an agreement between economic players, the Chamber of Commerce, interest groups and employee’s organisations, because “the government does not want to decide above their heads”, he said.
The government is also aiming to achieve a new, multi-year agreement between employers and employees on growth-linked wage hikes, he said. Such an agreement would prepare a reliable path to achieve the 1,000 euro minimum wage and the 1,000,000 forint average wage, he said.
Orbán talks about zero-interest loans
Meanwhile, the government would also like to “double the size of export-ready SMEs”, which would involve capital injections and a new action plan, to be called the Demján Sándor plan, Orbán said.
Regarding a loan programme for workers, Orbán said skilled workforce had a crucial role in the economy, besides degree holders, and so young workers would receive zero-interest loans from 2025, similarly to student loans, he said.
War-related inflation and the energy crisis have raised real estate prices in Hungary and Europe, he said. In order to make housing affordable in Hungary, “because Hungarians believe primarily in owning their apartments and houses”, the government must double the volume of housing construction and push mortgage interests below 5 percent, he said.
Assessing the political situation, Orbán said Wednesday’s European parliamentary debate had shown that “nothing has changed in Brussels”. “You can only be the good guy there if you support the continuation of war uncritically, accept Brussels’s migration policy and open the doors to LGBTQ propaganda.”
Europe had not given up the aim to “force migrants on Hungary and turn it into an uncritical supporter of war”, he said. At the same time, “they know they will never achieve that with the national government, and now they are looking for new vassals besides their old ones, then come rolling dollars and euros, they will lift their intended on their shoulder and promise him impunity,” he said.
“Promises of impunity from Brussels always come with a hefty price tag, and Brusselites like to make Hungarians pay that price,” Orbán said.
Besides the support of migration and war, Brussels also expects Hungary to scrap utility price caps and the 13th month pension, to improve the position of multinational corporations as against Hungarian companies, to raise the PIT and to introduce a property tax, Orbán said.
“I am ready to fight, we shall win,” he concluded.
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4 Comments
The Real Person!
The Real Person!
Oh, dear. Where to start.
https://economy-finance.ec.europa.eu/document/download/efaf659e-7a26-4cbe-a427-dc82ea6b1a9d_en?filename=ip284_en.pdf
How exactly do you “push mortgage rates down” to under 5 percent … With this track record on the base rate alone, projections for the coming years (see above)?
https://tradingeconomics.com/hungary/interest-rate
“Big plans!”, “Ready to fight!”, Personnally, I´d love to see something supported by data and facts, as opposed to political rhetoric.
The Real Person!
The Real Person!
Orban has been pushing Russian propaganda for years about a “declining West” and a “rising East”. The purpose of his propaganda is to separate Hungarians as much as possible from Europe and especially from the US. As Hungarian opposition politicians are finally now saying publicly Orban is a traitor who is selling Hungary out to the Russians and the Chinese. Only an idiot thinks that Russia is rising and China is now in an economic malaise that it cannot pull itself out of since the pandemic while the US is doing well. China’s communist party will always be the millstone around the necks of the Chinese people and economy and this is proving itself today with its’ disasterous mismanagement of a market economy. No economic model has ever been created to surpass what the US has and Orban hates that fact because he is a traitor to democracy and the Western alliance.
The Real Person!
The Real Person!
Name any top tech company in the world and virtually every single one is US based: Microsoft, Apple, Google, Nvidia, Amazon, Meta and the list goes on. There is no technological company with widespread global reach that exists in China or Russia or anywhere else that is in any way comparable with American global behemoths. Technology is what is key to global power and Orban is completely pulling the wool over the eyes of Hungarians to suggest that the West is in decline.
The Real Person!
The Real Person!
Victor Mihaly. Orban – with his Minister of Finance Minister – Mihaly Varga, the absolute WRONGFULNESS – after countless warnings from brighter and “Learned” brains than they possess, that we NOW witness are seeing living with, the DEVASTATION as a country Economically and Financially, through Orban & Varga, there destructible Financial & Economic Policy’s that were agreed on by the entire Fidesz Government of Hungary.
Orban & Varga – have NO flexibility – manoeuvrability what is the CHAOS position WORSENING – rapidness of ongoing decline of the Hungarian Economic and Financial landscape.
Orban & Varga – whatever is in there “Big Plans” – the citizens of Hungary are going to get further SCREWED – pay for heavily out of there taxes.
How else is Orban & Varga going to FUND the “Big Plans” ?
Orban & Varga can’t BORROW again from China and Russia – knowing as we do the RISING Government Debt of there DOING – Orban & Varga and then the gargantuan Debts to the European Union that like the borrowings from China and Russia, the INTEREST rate “compounding” charges on the European Union Debt then the “High” rates on the Chinese & Russian Loans – Humongous.
“Boxed into a Corner” that HAS after 15 years reached a position, through the Economic and Financial incompetency of Orban & Varga – who alone continues to be an absolute “Dud” an EMBARRASSMENT as a Finance Minister, that from Brussels in his role through Hungary’s time in it’s Presidency, is given NO respect and thought lowly of his ability.
The Speakeasy Clubs of Brussels – the “off the record” places of talk, the Minister of Finance – Mihaly Varga of Hungary, a laughing stock at his lack of Economic & Financial interpretation, creativity and understanding.
Orban daily becomes like the “little” Austrian corporal, enclosed and “hemmed in” his bunker in Berlin in 1945, with his “inner sanctum” around him, maps everywhere pointing at them, suggesting IMPOSSIBILITIES from the position he had led his country, in an IDEOLOGY to obtain Victory – that was just a FELLACY a behaviour of a lost distorted individual who’s days were numbered.
Is this not likened to Orban’s “crazed” – “Big Plans.” ?
A LOST cause through the FORCES of his – and Varga’s – Economic and Financial they have created the DOWNFALL – the collapse of Hungary ???
Cornered – no way out other than deeper pain and misery on the citizens of Hungary, that BUILDS in being witnessed through a “Judas” behaviour pattern that some rightfully record like a TRAITOR, and can’t be GIVEN nor TRUSTED to introduce his Big Plans.