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Opposing takes on the state of Hungary’s economy

May 25th, 2023

A left-wing columnist believes the Hungarian economy is in crisis, while a pro-government commentator sees a light at the end of the tunnel.

In Népszava, Miklós Hargitai accuses the government of proving itself unable to solve Hungary’s problems over the past year. On the contrary, he writes, utility tariffs have been raised, pensioners are worse off than before, and soaring inflation is taking a heavy toll on the population. Those were the phenomena, he remarks, the government predicted in case the opposition was to win the elections last year, but which came true under its own rule.

By contrast, Csba Szajlai predicts in Magyar Nemzet that Hungary will avoid a recession this year, inflation will be brought below 10 percent by December and a 3 to 4 percent annual growth is expected for the next four years. As a result, he continues, Hungary’s debt ratio will sink below 60 percent of GDP within two years and thus the required conditions will be fulfilled for the introduction of the Euro. Szajlai expects direct foreign investment to play a significant role in all that.

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