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.
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