Gulyás: Foundations of Hungarian economy are ‘stable and strong’

The minister in charge of the Prime Minister’s Office said that despite the volatility of the markets caused by the Russo-Ukrainian conflict, the Hungarian currency is stable and the fundamental aspects of Hungary’s economy are particularly strong.

Speaking at a government briefing on Thursday, Gulyás explained that the latest industrial production data for Hungary shows a 9.4 increase, in addition to significantly higher budget revenues than expected and a healthy level of employment across the country.

With regards to the ongoing negotiations between Brussels and Budapest on Hungary’s access to EU recovery funds, Gulyás explained that negotiations had progressed and an agreement was likely to be reached in the fall.

The Hungarian government had accepted the European Commission’s position in four areas. First, even in national public procurements, the proportion of single-bid public procurements will be below 15 percent; the court can decide on further steps in corruption cases if the prosecution close it; Hungary must use part of the EU funds to achieve energy independence; and EU funds received as loans must be used to achieve energy independence.

Gulyás bemoaned the current anti-Hungarian position of the European Parliament, which he said would be the biggest obstacle to any agreement reached by the European Commission and the Hungarian government due to “Hungarian leftist MEPs and their Western comrades” who he believes will do anything to hamper economic prosperity in Hungary under a conservative government, even if that “prevents the country from accessing funds to increase the wages of teachers or health care workers.”

“This, in a wartime situation, is unprecedented irresponsibility,” he said.

Photo credit: MTI