Romania preceded Hungary again: Hungarians second poorest in the EU

Based on consumption per capita, Hungary is the second poorest country in the European Union preceded only by Bulgaria at the negative end of the list. Even Romania preceded Hungary in that respect and many other factors.

According to index.hu, consumption per capita is very different in the EU countries and regions. Eurostat said in their latest survey that the highest consumption per capita was in Luxemburg, Austria, and Germany compared to the EU’s average. According to their list, consumption is the second lowest in Hungary. Only Bulgarians are poorer than the Hungarians. Meanwhile, Hungary joined the EU almost 20 years ago, in 2004, and received lots of EU development money. Bulgaria joined the community only in 2007, together with Romania, but Romanians have become richer than the Hungarians in the last almost two decades.

Eurostat, the European Union’s statistics institution, measured actual individual consumption (AIC) in 2022 and data ranged between the 69% and 138% of the EU average. On the top of the list is Luxemburg. There, people consume 38% more than the average EU citizen. Austria and Germany follow the small Western European state with 18%.

In 2022, nine EU member states were above the EU average, the Eurostat report said.

Only Bulgaria performed worse than Hungary in this respect. The Bulgarians’ actual consumption is only 69% of the EU average, while that rate is only 71% in Hungary. The consumption of Bulgarians increased by 4% compared to 2021. Romanians are currently at 86% of the EU average.

Croatia and Latvia follow Hungary on the other end of the list with 76-76%.

Hungary struggled with the highest inflation in the European Union after the Orbán cabinet’s fourth landslide victory in 2022. Among the reasons, experts mention the increased government expenditures before the elections, the energy crisis, the war in Ukraine and the import-based Hungarian energy sector. Since salaries could not follow skyrocketing inflation, people in Hungary cut their consumption radically in the last few months.

Construction sector output flat in October

The output of Hungary’s construction sector in October edged up an annual 0.1%, after falling by 6.0% in the previous month, the Central Statistical Office (KSH) said on Friday. Output of the buildings segment grew by 2.0% while civil engineering output slipped by 2.6%.

In absolute terms, construction sector output was worth 660 billion forints in October. The buildings segment accounted for 61% of the total. Month on month, construction sector output rose by 1.0 pc, adjusted for seasonal and working-day effects. Construction sector output fell by 4.2% in January-October from the base period.

Read also:

Hungary struggles at the bottom in Europe’s happiness ranking – Read more HERE
Hungarian parliament adopts law on guest workers – Details in THIS article

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1 Comment

Tax Rates & VAT - Impact Worsens; says:

15/12/2023 at 12:45

Factual picture evidence, the subject of this article, continues to be EXPOSED of the UGLY place, the Orban led Government of Hungary, the existence and dominance of the Oligarch’s, the destructive, the immediate to short & long term, into the future gargantuan destruction these facts are having on our lives presently in Hungary, that our future deepens, the “black hole” – the nadir of it’s final resting place, will be horrendous – it’s impact on the lives, the quality of lives, of 9.6 million Hungarians.
Hungary under Orban and his “Right Hand Man” – the Finance Minister – Mihaly Varga, they set the over-all taxes we pay at the highest brackets, in the top numbers of European Union Member country’s.
Hungary – we rank Number 1 in VAT application of 27%.
It’s FALSENESS eradication of Truth, when you hear Orban or Varga – claiming speaking on the tax levels imposed on Hungarians, taking a position they are low in comparison to other country’s of the European Union.
That is and both are EXPERTS at the propaganda game, as it’s not the case, that taxes are in Hungary, extremely high, disjointed to all other areas of the major componentry of our economy, that result in the “bleeding” of we the citizens of Hungary, for very little in return of our taxes paid, taken by the Orban Government.
High tax ratios – disjointed breaking down the entire Hungarian Financial & Economic BALANCE Sheet.
VAT level of 27% that EFFECTS our POCKETS.
Are these factual situations going to lessen there HARSHNESS on Hungarians in the immediate future ?
Don’t need to be a Rhodes Scholar to answer that question.
They will “Bite” harder into the pockets of Hungarians.