Viktor Orban Photo: Martyn Wheatley / Keystone Press Agency / Global Look Press
Hungarian Prime Minister Viktor Orban has warned that if the world economy splits into two blocs, European Union products may lose competitiveness in global markets. In particular, he criticised the EU’s economic strategy, calling it an attempt to create an “economic cold war” with China, Reuters reports.
In an interview with state radio, Orban said that Hungary was keen to continue cooperation with both the EU and China. “We do not want to choose between them. Trade with both sides remains our strategic goal,” the prime minister said.
His statement comes as the EU prepares to vote on imposing duties on Chinese electric vehicles. These measures are expected to have serious consequences, including a possible response from Beijing. At the same time, Orban warned that splitting the economy into blocs would complicate the sale of European-made goods, calling into question the effectiveness of Hungary’s economic neutrality strategy.
On domestic policy, Orbán has stressed the need to restore economic growth before moving on to raising wages. His government has an ambitious goal of reaching an average salary of HUF 1 million (about USD 2,749) in the next 2-3 years, up from the current level of HUF 600,000.
The Prime Minister also noted that price caps are a temporary measure that can only be applied in extreme circumstances. In his opinion, this decision cannot become a long-term economic strategy.
