Hungary's PM Orbán Argues His Case In Interview With WSJ
- 22 Jul 2013 9:00 AM
Hungary’s unorthodox economic policies are actually innovative and purposeful, as conventional economic policy does not work in times of crisis, Prime Minister Viktor Orbán said in an interview with The Wall Street Journal. Defending the extra taxes on such sectors as banking, energy telecoms and retail, he confirmed that they will remain until the state debt is below 50% of GDP, which he said could take 10 years.
Orbán asserted that Hungary was in the vanguard of Central Europe in 2002 but was the weakest by 2010.
Fidesz took power, he said, it had a clear idea of how to overcome the crisis and make Hungary competitive.
State debt was rising before 2010 but today it is decreasing, he continued, while Hungary has been removed from the EU’s excess deficit procedure, the country’s balance of payments is positive, and Hungary can again finance itself from the markets.
Source: Hungary Around the Clock
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Interview With Hungary's PM Orbán In The Wall Street Journal
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