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PÁRBESZÉD: GOVT 'UNDERESTIMATING SERIOUSNESS OF CRISIS'

 

The government’s stimulus package is “insufficient” to offset the economic impact of the novel coronavirus epidemic, a Párbeszéd lawmaker said on Thursday, insisting that the government was “underestimating” the seriousness of the crisis. Despite the European Union suspending its deficit limits, the government and the central bank have been reluctant to expand their coronavirus rescue packages and are more intent on simply reallocating existing funds, Tamás Mellar told an online press conference. He said the “government’s historic bailout measures” said to be worth 18-20% of the country’s GDP “so far only amount to half of that target”. Mellar accused the government of ignoring “the coming social crisis”, referring to workers who have lost their jobs, struggling businesses and people living in extreme poverty. These sectors of society are in need of measures such as increased family benefits, a higher minimum pension and higher unemployment benefits, he said.