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PM Orbán: War blocks growth, but Hungarian entrepreneurs are winning despite extreme challenges

Hungarian entrepreneurs have delivered outstanding performance under “extraordinarily difficult, essentially wartime conditions,” Prime Minister Orbán said at the Entrepreneur of the Year award ceremony on Friday, emphasizing that the country’s economic results are primarily due to the resilience and work of Hungarian businesses.

PM Orbán thanked the Confederation of Hungarian Businesses for honoring the work of Hungarian entrepreneurs and said he wished to focus on appreciation rather than campaign politics. He stressed that while entrepreneurs are the engine of growth, the war in Ukraine “blocks” the economy. “A rule of thumb is that 1 percent of GDP growth brings 400 billion forints of revenue to the budget. Without the war, Hungary would be growing at 3 percent. That would mean an additional 800 billion forints — funds we could invest directly in economic development,” he said.

He underlined that the war harms Hungarian businesses most directly. Still, compared with Western Europe, Hungary is “on the winning side,” precisely because it avoided involvement in the conflict. “Those who entered the war now face enormous costs. The war is expensive — the Americans, who understand business best, have already stepped out,” he noted.

PM Orbán said Hungary’s economy has held up far better than the German economic zone, the country’s key export market, thanks to Hungarian entrepreneurs who did not stop, retreat or suspend activity. Their performance, he added, made possible the latest 90–100 billion forint tax cut and SME support package, as well as the agreement on next year’s minimum wage increase and the strengthening of family support measures. “These are your victories,” he told the award recipients.

Looking to next year, the prime minister said the fate of Hungarian businesses will depend on two factors: the question of war and peace, and the type of economic policy chosen by voters. He argued that left-wing economic approaches mean higher taxes, bureaucracy, redistribution and “inevitable tax hikes,” while right-wing economic policy leaves resources with families and companies, resulting in tax cuts and stronger performance incentives.

He warned entrepreneurs to scrutinize all economic programmes before the spring elections, including proposals involving asset declarations or wealth audits. “This is a vise that would clamp down on your wrists,” he cautioned.

PM Orbán closed by urging entrepreneurs to protect their freedom to operate and resist bureaucratic overreach. “I wish you a peaceful new year, a 2026 free from war, a blessed Advent and a merry Christmas,” he said.