Prime Minister Viktor Orbán said complying with Brussels' so-called country-specific recommendations would "ruin half of families" in Hungary.
In a weekly interview with public radio on Friday, PM Orbán said Brussels had recommended that Hungary roll back a rate freeze protecting 300,000 households with mortgages and warned that compliance would put most of those families "on the brink of ruin".
Brussels has also asked Hungary to abolish a mandatory cap on markups that lowers prices for Hungarian consumers but cuts the profits of big retail chains, he added.
Brussels has criticised Hungary's home subsidies schemes, which affect tens of thousands of Hungarians, because they are "too broad and not targeted", and they call the chance to buy a home for cheaper "market distortion", PM Orbán said.
He pointed to a willingness to cooperate "to the point of piety", but said the interests of Hungarian people had to be protected, leaving just one response to the annual country-specific recommendations: "I close the report and say 'thank you very much', this is all the concern of Hungarians".