GDP per capita growth has been above the EU-27 average in every year since 2010, so the Hungarian economy has grown faster than the EU average. Our decline in 2020 was also below average, and even below the large decline in 2009—despite the fact that the EU average decline in 2020 was larger than in 2009.
In the first article of our new series offering in-depth analyses focusing on the Hungarian economy and society our authors look at inflation in Hungary in a historical context.
The government’s primary focus for the current year is the restoration of economic growth while continuing to reduce the budget deficit and national debt.
The National Assembly of Bulgaria passed a new, €10.2 per megawatt-hour tax on Russian gas coming through the TurkStream pipeline. President Aleksandar Vučić of Serbia and Foreign Minister Péter Szijjártó of Hungary have condemned the decision.
Orbán began his speech by asserting that ‘this year has enormous amounts at stake because the Soros empire, in collaboration with the governing American Democrats, is launching an attack on right-wing media and enthusiastic national parties in many European countries, portraying themselves as Goliaths’.
István Pálffy, who returned to television as an on-screen talent after 13 years, was interviewing 2022 opposition candidate Péter Márki-Zay when he inexplicably made the claim that ‘we should demonstrate certain patience towards an illness like that of paedophiles’. He was fired after just one day.
During the inauguration of a new solar power plant established by the MVM Group, Alexandra Szentkirályi stated that due to the war in Ukraine and the imposed sanctions, a very challenging energy situation has emerged. Therefore, the government’s most important task is to strengthen Hungary’s energy independence.
Viktor Orbán stated that the war is becoming increasingly violent and brutal. He remarked that it would be natural for more and more people to stand for peace as a result, but he does not see this intention among the majority of EU leaders.
Gergely Gulyás stated that the government believes that it is necessary to prepare for a protracted war and that economic difficulties persist due to the sanctions. He added that Hungary’s position is clear: Hungary condemns Russian aggression and provides humanitarian assistance to Ukraine.
Some observers believe that the war offers a painful but historic opportunity for Europe to detach itself from fossil fuels more rapidly than planned, and the scarcity of energy will bring the required green shift in societal attitudes, as well as the operation of the economy.
Hungarian Conservative is a quarterly magazine on contemporary political, philosophical and cultural issues from a conservative perspective.