Daily News Hungary economy

Budapest, June 3 (MTI) – The opposition Socialists on Friday savaged the ruling Fidesz party for what it insisted is an economic slowdown in Hungary coupled with the low financing of public services.

“While companies linked to Prime Minister Viktor Orbán and his friends operate with 35-40 percent profits, developments in the public sector and investments in hospitals, schools and social institutions are being reduced at a similar rate,” party leader József Tóbiás said.

The government is only concerned about supporting people it favours, and the country’s deteriorating economic performance is a result of “Fidesz’s corrupt economic policy”, he added.

The ruling Fidesz party said in response that since it came to power in 2010, Hungary has “got back on its feet”. The party said in a statement that the unemployment rate has dropped below 6 percent from 12 percent over the course of the past six years, the fifth lowest rate in the EU. The private sector is continuously adding jobs and investor confidence in Hungary has also returned.

Fidesz said the government has put Hungary back on a growth path, which has allowed it to increase social spending. The government has cut taxes, launched home creation subsidy programmes and started raising wages, Fidesz said.

Source: http://mtva.hu/hu/hungary-matters

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