Hungary’s Achievements Outlined By PM

  • 16 Sep 2014 9:00 AM
Hungary’s Achievements Outlined By PM
The Fidesz-led government’s economic achievements include tax cuts, employment at a 20-year high, a jobless rate below 8%, investments up by a fifth in April-June and Hungarian industrial output at a three-year peak, the prime minister told lawmakers in his opening speech of the first day of the autumn session of parliament.

By the end of this government’s cycle, Hungary can realistically expect to produce the highest industrial output as a ratio of GDP in Europe, Viktor Orbán said.

The bank settlements law for compensating borrowers whose contracts were unilaterally changed by banks will focus on the ideals of fairness, equitableness and honour, Orbán said.

The government has accepted the decision of the Kúria, the supreme court, declaring unilateral changes by banks as an unfair practice and banks must compensate clients in the interest of following “the public good”, he said.

Preparations must be made as there are already “rustles from Brussels,” and banks in themselves are powerful, brave and cunning, Orbán added.

The government has been able to make a change in connection with two stressful aspects of everyday life: high utility bills and high repayments on forex loans.

The utility bill cuts administered had a positive impact on the economy, too, Orbán said, adding that the scheme was “the essence of our policies” and would continue.


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MTI photo: Illyés Tibor

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