According to Tamás Mellár, the former president of the Central Statistical Office during the 1st Orbán Government (1998-2002), the Hungarian economy will run out of communal sources in the next 3-5 years.
Soon there will not be sufficient productive assets, in either quantity or quality, to enable economic growth. There will be less employment, more community workers, and Hungary will be far below the other Visegrád Group countries. The government will need to increase its indebtedness in order to stimulate the economy. Increasing deficits could, in turn, lead to austerity measures in the future. Mellár outlines: "Moreover, financial assistance is distributed based on connections. It will create and strengthen an economic system, which is unsustainable in the long run and reduces economic development. Hungary ranks 69th in the World Competitiveness Ranking, which also shows that the enterprises owned by Hungarians, and which received a huge amount of money in the past years did not make Hungary competitive."
Last Updated on Thursday, 16 February 2017 07:00