• Home
• Channel: Finance
• 'Flawed' Pension Policy: Hungary’s Economy “In Big Trouble”, According to Opposition

'Flawed' Pension Policy: Hungary’s Economy “In Big Trouble”, According to Opposition

• 15 Apr 2024 5:33 AM
• Hungary Matters

Hungary’s economy “is in big trouble”, according to the opposition Socialists, who slammed the government’s “flawed” pensions policy.

The budget is too strained for the payment of a pension premium, Lajos Korózs, the party’s deputy leader, told a press briefing on Friday, noting the government’s rule that the economy must grow by at least 3.5% before the extra pension payment could be made.

He also blamed “bad” economic and financial policies, including interest and exchange-rate policies, for the plight of pensions, saying that “even the finance minister has admitted that dedicated measures are needed to protect pensions”, and the Socialist politician called for a pension-protection fund.

Many retirees, he added, were living in poverty, while almost 400,000 were still having to maintain their job as they were unable to support themselves from their pension alone.

Korózs said pensions had been falling behind wages “drastically”, and the government was unwilling to close the gap, “even in the case of low pensions”.

*********************************

You're very welcome to comment, discuss and enjoy more stories, via our Facebook page: 
Facebook.com/XpatLoopNews + via XpatLoop’s groups: Budapest Expats / Expats Hungary

You can subscribe to our newsletter here:
XpatLoop.com/Newsletters

Do you want your business to reach tens of thousands of potential high-value expat customers?
Then just contact us here!

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Pension Policy Economy Opposition

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

Explore More Reports

Gov't “Seeks to Conceal” Purpose of One Billion Euro Loan to Hungary from China, Claims DK

• 1 Aug 2024 10:36 AM

The Democratic Coalition will file a request to the State Debt Management Centre for information concerning the terms of a one billion euro loan the government has recently taken out from China, László Varju, the opposition party’s deputy leader, told an online press conference.



Despite “False Rumours” Relationship Between Hungarian Central Bank Governor & Orbán Remains Close

• 12 Mar 2024 6:08 AM

Hungary’s prime minister and central bank governor continue to have a close working relationship, the National Bank of Hungary (NBH) said.



EC to Withhold Euro 20 Billion from Hungary - Until it "Fulfils All Requirements"

• 18 Jan 2024 9:17 AM

While Hungary has fulfilled requirements on judicial reform, the EU will continue to withhold some 20 billion euros of cohesion funds until other concerns are addressed, Ursula von der Leyen, the European Commission president said.



2024 Outlook: Growth in Hungary 'Realistic', After 'Year Of Orbán's Austerity'

• 21 Dec 2023 8:54 AM

Putting the Hungarian economy back on a growth path is a "realistic goal", Prime Minister Viktor Orbán said in an interview to commercial television TV2.