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Concerning the issue of energy and the economy, Prime Minister Viktor Orbán told the “Tusványos” Summer University in Băile Tușnad (Tusnádfürdő), Romania, that the key question was who benefitted from the wartime situation. “Those with their own energy sources are the ones that benefit,” he said. The situation benefits Russia because their energy revenues are not only dependent on the volume sold, but also energy prices, Orbán argued. It also benefits China, “who in the past was dependent on the Arab world, but can now also buy Russian energy”, he said. And, he added, the conflict also benefitted American corporations which have “multiplied their profits”. But the wartime situation hurts the EU, Orbán said, arguing that its energy deficit had tripled. Regarding the government’s household energy price caps, Orbán said that system had worked well for a decade, but the war and wartime energy prices “tipped it over”. The government is working to protect the scheme as far as average consumption goes, he noted.
Hungary can preserve its economic achievements only if it “stays out of the war, migration, gender madness, the global [minimum corporate] tax and general European recession”, the prime minister said. Hungary emerged strengthened from the crises in 2010 and 2020, he said. To sustain its achievements, it will have to adapt to the new situation and broker new agreements with all its important partners: the European Union, Russia, China and the United States, he said. If all those agreements are shaped to respect national interests, the country could be back on the “old growth and development track” by 2024, he said. Orbán said the Western world’s woes were expected to “multiply” by 2030. The US will face an economic crisis, the euro zone will be ailing, and the EU will see a reshuffling of power lines as central European countries will become net contributors in the bloc.
Orbán said Hungary could be “a local exception” to a global recession. The prime minister listed several factors that could shield Hungary from an economic downturn, including the country’s border protection policy, its “family-based society”, a major military development scheme and the diversification of its energy sources. Orbán also said Hungary could use ongoing technological shifts as well as foreign capital inflows from both the West and the East to its advantage. “We’re a transit country and we want to remain a transit economy, and for that we have to oppose any re-emergence of blocs,” the prime minister said. He also underscored the political stability provided by ruling Fidesz’ two-thirds parliamentary majority, and noted a recent generational shift on the “nationally minded side”. “Hungary still has its national thought, its national feelings and culture,” Orbán said. He also emphasised the importance of the country’s ambitions at the community and national levels. “To preserve those national ambitions in the coming difficult period, we must stick together,” Orbán said. “The motherland, Transylvania and the other parts of the Carpathian Basin with Hungarian populations must all stick together”. “The concept that we have always given more to the world than what we were given … that we have outstanding invoices, and that we are better, more diligent and more talented than where we stand and how we live; and the fact that the world owes us and we will collect that debt. That is our strongest ambition,” Orbán concluded.