The Government's economic achievements include tax cuts, employment at a 20-year high, jobless rate below 8%, investments up by a fifth in April-June and Hungarian GDP at a three-year peak, Prime Minister Viktor Orbán said in a speech opening the autumn session of Parliament.
The Prime Minister briefed MPs about the flood protection, stating that than the more than 250 millimetres of rainfall within 60 days overburdened the drainage system. Currently there are 6000 people participating in flood protection operations in 129 municipalities and while 285 people had to be evacuated 120 already were able to return to their homes.
By the end of this Government's cycle, Hungary can realistically expect the highest industrial output to GDP ratio in Europe, the Prime Minister underlined. The focal point of the Loan Compensation Bill, which seeks to compensate borrowers with loan agreements unilaterally modified by banks, is the requirement to be fair and equitable, he said, noting that the Government accepted the arguments of the Kúria, which declared unilateral modification by banks an unfair practice.
The Prime Minister said Hungary’s independent courts have concluded that banks abused their dominant position and acted in an unfair manner, at the expense of ordinary citizens. Therefore the fairness of proceedings has to be enforced. This can be achieved only if we unite, he said. Hungary is now strong enough to enact and enforce the necessary decisions, he added. "If there is unity, everything is possible," he said, asking all lawmakers, irrespective of party colours, for support. He warned that international financial institutions were strong and fierce, and the Government must be prepared.
The Prime Minister also discussed further utility bill cuts, with 5.7% slashed away from the price of electricity and a reduction of 3.3% in the price of district heating starting September and October, respectively. Two years ago Hungarians used to pay the most for utilities in the EU, he pointed out.
Commenting on the recent NATO summit in Cardiff, Prime Minister Viktor Orbán stated that a shield will be raised on the Eastern border of Hungary and the country will increase its defence spending as well as strengthen and expand the airport in Pápa. He also stated that Hungarian troops will participate in military exercises in the Baltic States.
Finally, talking about the Partnership Agreement signed recently with the European Commission, he said the document opens a new era in Hungary’s EU relations, noting that the amount of funds agreed upon are necessary to maintain the equilibrium of our economy.
The closing words of the Prime Minister encouraged every Hungarian citizen to participate in the upcoming municipal elections and to urge their friends and families to join them at the voting station.
(Prime Minister's Office)
