Gergely Gulyás explained that since the previous cabinet took office in 2018, numerous changes have occurred in world politics and the economy, and the government elected in 2022 had to face completely different challenges than it did four years earlier.
Hungary and Bangladesh belong to the peace-loving global majority, Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó said in a joint press conference with Bangladeshi Commerce Minister Tipu Munshi in Budapest on Friday.
We celebrated the thirty-third anniversary of the formation of the freely elected Hungarian National Assembly on 2 May. The question is, however, whether we should still celebrate it, since the bitter memories of recent times have now thoroughly overshadowed the initial euphoria of the regime change.
According to the law sponsored by the justice minister, an extended state of emergency is needed to handle the humanitarian catastrophe caused by the war in Ukraine and to tackle the economic consequences of the armed conflict. The bill was designed to ‘ensure all means to assist and accommodate refugees, fence off the negative economic impacts.. and help the country leave behind the effects of the war as soon as possible,’ the draft legislation’s preamble said.
There is a slowdown in global growth. The economies of a once highly globalized world are drifting apart. The EMU economy is being hit particularly hard. The recession is coming and, according to projections, the EMU will soon enter stagflation, the worst of economic states.
The Hungarian economy performed exceptionally well in 2022, despite the economic crisis caused by the war and the harmful sanctions imposed by Brussels.