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BUDGET 'ADDRESSES INFLATION, ECONOMIC CRISIS'

 

The war is likely to be protracted, Orbán said, adding that 2023 would be full of “uncertainty and anxiety”, and the world would be “tormented by the war and its economic fallout”. He said that whereas Hungarians would not be dragged into the war, it would be impossible not to feel its consequences in the form of inflation and an economic crisis. Orbán pledged to protect the value of pensions and ensure full employment, while he said the budget would protect the government’s family support system and caps on household utility bills. Orbán said a decree containing the detailed rules regarding utility bills will be published in the next couple of days, and around 100,000 small businesses will still enjoy low-cost energy supplies thanks to the cap. He said that two special allocations have been created in the budget, one dedicated to defence so that the army can act if required, while the other concerns price caps with a view to protecting living standards for families. Concerning windfall taxes, Orbán said: “It is a war situation and families must not be made to pay its price.”