Orban slams EU for withholding funds for Hungary, Poland

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Hungarian Prime Minister Viktor Orban criticized the EU for imposing new sanctions instead of providing assistance and for depriving Hungary and Poland of the recovery funds they were entitled to, in his annual “state of the nation” speech in Budapest on Sunday, 19 February. 

Standing in front of a sign proclaiming “Peace and Security”, Orban opined that Hungary did not receive the money from the joint loan taken out by member states, which they will have to repay.

Orban said it is crucial that Hungarians realise that inflation is not insurmountable. He claimed that the government had implemented around two dozen measures to protect companies and families, including energy subsidies that allowed the average household to save HUF 181,000 each month, which he claimed is unique in Europe. 

He also mentioned that the threat of inflation is still present. Despite Hungary’s inflation rate of over 20%, Orban said Hungary achieved record employment, exports, and investments in 2022, and foreign currency reserves were at an all-time high. He pledged to reduce inflation to single digits by the end of the year.

Orban said people had been living under constant pressure for the past three years, which could continue for four or five more. Instead of returning to the right path after the pandemic, the world had entered a period of war, and it was heading towards the “Wild West”, he said. 

Hungary to continue with price caps policy

Orban said it is crucial that Hungarians realise that inflation is not insurmountable. He claimed that the government had implemented around two dozen measures to protect companies and families, including energy subsidies that allowed the average household to save HUF 181,000 each month, which he claimed is unique in Europe.

The Hungarian premier pledged to continue his government’s family policies and labour-based economy while maintaining its flagship policy of price caps on household utility bills.  

Orban stated that after last year’s April general election, the government spent several months re-evaluating everything due to the Western sanctions imposed during the war. 

He pledged to maintain price caps until inflation is on a downward trajectory, despite “left-wing calls” to lift the price cap on essential foods, and added that the cap on interest on loans would also remain in place to protect 350,000 families from interest rate spikes. 

Furthermore, he announced that cheap national bus and train passes will be available from May 1.