Hungarian Conservative

In its country report on Hungary, the IMF proposes the same measures to ‘recover’ the Hungarian economy that brought the country to the brink of collapse in 2008. In his Facebook post, Balázs Orbán stressed: ‘We won’t ask for it again, thank you!’

In the short term, the process of de-dollarization is exploiting the current state of the business cycle in the US and EU. Just a small decrease in the number of transactions in which the dollar is denominated will cause a devaluation of the dollar and a prolonged state of higher interest rates in the US, together with quantitative tightening—all leading to a weakening of the economic position of the US, the EU, and the other G7 countries.

‘Since Viktor Orbán became prime minister, his country has had one of the strongest economies in Europe. While the economies of Germany and France have been sputtering and stumbling, Hungary has continued to set an example of economic prowess and strength that much of the rest of Europe would be wise to follow,’ Larson wrote in his analysis published by The European Conservative.

At the meeting, the parties agreed to strengthen cooperation. They also shared the view that government support needs to be provided in order to protect Hungary’s strategically important automotive industry and preserve jobs.

Due to the multifaceted crisis the continent is dealing with, the probability of recession is rising.