Price freeze could be over in Hungary in less than a month

It is improbable that the government will maintain the price freeze beyond October. According to the Minister for Economic Development, Márton Nagy, the price freeze is not sustainable. 

The Hungarian government had intended for the price cap to be temporary. This is backed up by the words of Márton Nagy, Minister for Economic Development. Nagy says the price freeze had done its job. These temporary measures only provide temporary solutions. The price shock on the market has made the price freeze necessary, but it cannot become permanent, 444.hu reports.

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Nagy also brought up inflation. The energy crisis affects everyone. The country needs to get out of this emergency as soon as possible. Nagy added that the refineries in Bratislava and Százhalombatta would soon be back in operation once the maintenance would be over. Shortages are expected to continue due to the surge in demand and the general shortage of diesel, 24.hu writes.

The minister said it was not a good idea to put a price cap on electricity prices at the EU level. “Sooner or later, everyone will have to pay market prices, and price caps will have to be removed because they have a market-distorting effect,” Nagy added. In other words, the cheap petrol and food prices will only apply until October. In all likelihood, the government will not extend it.

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Source: 24.hu, 444.hu