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Apr 25, 2016

Hungary prospers as it clears IMF-EU loan

Wages are increasing, unemployment is falling, taxes are being cut and investment in renovation and infrastructure is rising.

Hungary is going through a period of prosperity that is enabling the nation to renovate, regenerate and improve, according to Prime Minister Viktor Orbán.

Speaking on Kossuth Rádió on Friday, the Prime Minister stated that wages are increasing year-on-year, unemployment is falling, taxes are coming down and the value of pensions is rising.

What’s more, Prime Minister Orbán stressed that “we have not achieved this through debt”, and the country has repaid the IMF-EU loan.

He also highlighted that in 2013–14 the number of people below the poverty line fell by 600,000, and will reduce even further throughout this year and next.

Discussing next year’s budget reform, the prime minister outlined a plan to include further tax reductions and home-creation incentives, and “scope for progress in healthcare and education… within the framework of pay rise decisions over the course of three to four years if possible,” he stated.

Prime Minister Orbán also reported that, during his recent visit to Germany, he met with executives from Mercedes and Deutsche Telekom to implement a plan that by 2018 there should be one hundred percent broadband internet access for both businesses and households.