Hungarian Conservative

The global credit rating agency expects Hungary’s ‘fiscal slippage’ in 2023 to be temporary, and projects the country’s GDP to grow by 2.6 per cent in 2024, after it shrank by 0.5 per cent in 2023.

As of the end of 2023, Hungary’s national debt stood at 55.134 trillion HUF, 73.5 per cent of its GDP. Its debt-to-GDP ratio is considerably lower than that of the Eurozone countries, the collective debt of which amounts to 90.3 per cent of their combined GDP.

In Hungary, people traditionally think in terms of owning their own homes, which not only provides predictability but also financial security for the next generation.

The Fed is not cutting the federal interest rate, and is keeping it at 5.5 per cent, the highest it has been since the early 2000s. Meanwhile in Hungary, the National Bank cut interest rates on 31 January.

Tamás Deutsch articulated that it irks the European left that the Hungarian people consistently, through democratic elections, overwhelmingly support a nationalistic, sovereignist policy. He added that the European left seeks to forcefully override these decisions through political pressure.

The Prime Minister said the EU was in the habit of making bad decisions, and he listed the 2008 financial crisis and migration as examples, as well as the decision regarding the war in Ukraine to go ‘towards war and sanctions’ rather than in the direction of peace.

According to the Hungarian government, ‘preserving the ethnic foundations is our joint responsibility’, and as long as that exists, the politics based on ethnic groups also has a future, the Hungarian prime minister said.

Unlike the existing conditions, CSOK Plus does not distinguish between new and used residential properties. New homes are generally more expensive, which means that the same amount of money will buy a smaller property. However, the good news for buyers is that 80 million forints might be sufficient for purchasing a multi-room new apartment or house. On the other hand, new constructions are often more energy-efficient and have more modern layouts compared to properties that are several decades old.

In his regular Friday morning interview with public Kossuth radio, Viktor Orbán addressed issues such as migration, the economy and Ukraine’s EU accession.

The Hungarian currency, the forint celebrates its 77th birthday on 1 August. But in reality, the forint’s history can be traced back to as long ago as the 1320s.

Brussels is requesting an additional €98 billion in contributions from member states. Hungary does not approve of this contribution. As Gulyás pointed out, this request raises the question: how have Ukraine and the EU spent their funds so far? ‘Where is the money?,’ he asked. He also posed the same question to Budapest Mayor Gergely Karácsony, who is embroiled in a campaign finance scandal while he is also claiming that his city is nearing bankruptcy.

The authority was established to protect the money of European Union taxpayers, making sure that it is spent appropriately and in a targeted fashion. However, their goal is more ambitious, aiming to initiate a kind of cultural change in the economy, where the parties involved can and want to say no to corruption challenges.