Orbán Viktor Outlines Economic Stability Amidst Concerns Over Ukraine's EU Membership
The Hungarian Prime Minister discusses the government's economic strategies and risks at the Hungarian Chamber of Commerce and Industry assembly.
Prime Minister Viktor Orbán emphasized the stability and predictability of Hungary's economic policies during a speech on Friday at the Hungarian Chamber of Commerce and Industry (MKIK) assembly in Budapest.
He stated that the government's economic objectives for the year would be achieved, while expressing concerns that Ukraine's accelerated bid for European Union membership represents a singular significant risk to Hungary's economic future.
Orbán maintained that a robust economy necessitates a strong entrepreneurial sector and underscored the role of government in facilitating successful business operations.
He signed an agreement with the MKIK leadership, characterizing it as a serious commitment rather than a formality and thanked the chamber for its collaboration over the past fifteen years.
He identified the MKIK as a strategic partner of the Hungarian government.
According to Orbán, Hungary's future relies not only on politics and parties but primarily on performance.
The government’s priorities include enhancing competitiveness, reducing labor taxes, promoting digitalization, and expanding opportunities for domestically owned small and medium-sized enterprises.
He enumerated several measures implemented by the government, such as introducing personal income tax exemptions for individuals under the age of 25, reducing social contributions, simplifying the process of starting a business, and overhauling dual education systems to provide more accessible skilled labor.
Orbán claimed that the measures had led to the establishment of over 40,000 new businesses, supported by government initiatives.
During his address, Orbán raised concerns regarding pressures from Brussels, stating that plans being discussed aimed at supporting Ukraine would impose economically detrimental expectations on Hungary.
He warned that the EU has continuously been demanding higher labor taxes, new green taxes, and additional burdensome regulations for businesses.
Orbán asserted that the Hungarian government would not comply with such demands, proclaiming, "The Hungarian government is not the executor of Brussels' orders." He stressed a preference for negotiation over compliance and indicated that Hungary must direct its economic policies based on national interests.
He pointed out that the European Union is currently withholding billions meant for Hungary due to concerns related to corruption and rule-of-law violations.
The Prime Minister contrasted two potential paths for Hungary’s economic future: one characterized by tax increases, associated with opposition parties, and the other being a 'national' economic policy focused on performance and tax reduction.
He claimed that the opposition sought to introduce new forms of taxation and increase existing ones, exacerbating burdens on the middle class.
Orbán criticized past leftist economic policies for disfavoring entrepreneurship, stating that they were predicated on envy and led to increased taxation of the middle class, ultimately hampering performance and competitiveness.
He claimed that under leftist governance, an economic downturn is inevitable.
In his speech, he reiterated the government's commitment to facilitating a major tax reduction program aimed at families, with an estimated budget of 4 trillion forints.
He also mentioned initiatives like the Demján Sándor Program, which seeks to inject significant funding into small businesses by expanding financing availability.
Further, Orbán raised concerns regarding the implications of Ukraine joining the EU, suggesting that it could lead to unchecked immigration, crime, and competition for jobs that could negatively affect wages in Hungary.
He articulated that subsidizing Ukraine's potential EU membership would impose financial burdens on Hungary, denying that the country would assume any such obligations or risks.
Despite the challenges outlined, Orbán maintained confidence in achieving the government's economic goals for the year and expressed the importance of maintaining Hungary's sovereignty and economic interests in the face of external pressures.
He stated that the government's economic objectives for the year would be achieved, while expressing concerns that Ukraine's accelerated bid for European Union membership represents a singular significant risk to Hungary's economic future.
Orbán maintained that a robust economy necessitates a strong entrepreneurial sector and underscored the role of government in facilitating successful business operations.
He signed an agreement with the MKIK leadership, characterizing it as a serious commitment rather than a formality and thanked the chamber for its collaboration over the past fifteen years.
He identified the MKIK as a strategic partner of the Hungarian government.
According to Orbán, Hungary's future relies not only on politics and parties but primarily on performance.
The government’s priorities include enhancing competitiveness, reducing labor taxes, promoting digitalization, and expanding opportunities for domestically owned small and medium-sized enterprises.
He enumerated several measures implemented by the government, such as introducing personal income tax exemptions for individuals under the age of 25, reducing social contributions, simplifying the process of starting a business, and overhauling dual education systems to provide more accessible skilled labor.
Orbán claimed that the measures had led to the establishment of over 40,000 new businesses, supported by government initiatives.
During his address, Orbán raised concerns regarding pressures from Brussels, stating that plans being discussed aimed at supporting Ukraine would impose economically detrimental expectations on Hungary.
He warned that the EU has continuously been demanding higher labor taxes, new green taxes, and additional burdensome regulations for businesses.
Orbán asserted that the Hungarian government would not comply with such demands, proclaiming, "The Hungarian government is not the executor of Brussels' orders." He stressed a preference for negotiation over compliance and indicated that Hungary must direct its economic policies based on national interests.
He pointed out that the European Union is currently withholding billions meant for Hungary due to concerns related to corruption and rule-of-law violations.
The Prime Minister contrasted two potential paths for Hungary’s economic future: one characterized by tax increases, associated with opposition parties, and the other being a 'national' economic policy focused on performance and tax reduction.
He claimed that the opposition sought to introduce new forms of taxation and increase existing ones, exacerbating burdens on the middle class.
Orbán criticized past leftist economic policies for disfavoring entrepreneurship, stating that they were predicated on envy and led to increased taxation of the middle class, ultimately hampering performance and competitiveness.
He claimed that under leftist governance, an economic downturn is inevitable.
In his speech, he reiterated the government's commitment to facilitating a major tax reduction program aimed at families, with an estimated budget of 4 trillion forints.
He also mentioned initiatives like the Demján Sándor Program, which seeks to inject significant funding into small businesses by expanding financing availability.
Further, Orbán raised concerns regarding the implications of Ukraine joining the EU, suggesting that it could lead to unchecked immigration, crime, and competition for jobs that could negatively affect wages in Hungary.
He articulated that subsidizing Ukraine's potential EU membership would impose financial burdens on Hungary, denying that the country would assume any such obligations or risks.
Despite the challenges outlined, Orbán maintained confidence in achieving the government's economic goals for the year and expressed the importance of maintaining Hungary's sovereignty and economic interests in the face of external pressures.
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