Economy & Policy

PM Orbán: Price freezes remain in place

Several countries are following the Hungarian model.

PM Orbán announced that the government has extended the food and gas price freezes until October 1 and the credit moratorium and interest rate freeze until December 31, 2022.

“The Cabinet’s position is clear; the armed conflict must end, but in the meantime, the Hungarian people must be protected from the economic crisis of war,” the Center for Fundamental Rights said in a Facebook post.

The post explained that the cost of living, including food and fuel prices, is rising sharply in wartime Europe. Moreover, the European Union’s misguided sanctions policy has only added fuel to the fire. The group maintains that the sanctions imposed by Brussels only increase war inflation, but do Russia no harm. This is why the Hungarian government’s decision to maintain the price-restrictive measures previously introduced for several months is of the utmost importance.

The Hungarian model has been adopted by several countries. Croatia has a price freeze on fuel, Slovakia on electricity, and Spain and Portugal have introduced an official price on natural gas used for electricity generation.

The Center for Fundamental Rights stressed that the global inflation rampage has put families in a particularly difficult situation, but the extension of the credit moratorium and the interest rate freeze will also help them significantly. 

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