Hungarian PM aims to restore extra pension payment faster By Reuters
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BUDAPEST (Reuters) – Hungarian Prime Minister Viktor Orban said on Friday he aimed to speed up an extra month of payment to pensioners as he ramps up a pre-election spending spree.
Orban gave out numerous handouts ahead of the tight election in early 2019. These included a $2B income tax rebate to families and a waiver for young workers.
Nearly a third (2.5 million) of Hungary’s vote comes from the country, which is a central European country with just over 10 million inhabitants.
Current plans would allow pensioners to receive two additional weeks’ worth of payments next year. This partially reverses a decision by the previous leftist government that had axed a thirteenth month of pension before Orban was elected in 2010.
Orban stated that he wanted to reinstate the second week of payments starting January 1. However, he said in an interview to public radio. So that it’s not only the second week, but also the third, and possibly even fourth.
“So that when the next election comes, I can tell voters that we have restored the pensioners’ money that was taken by the Gyurcsany Bajnai (leftist).
A week worth of pensions extra will require 77 billion Forints (253.76 Million).
Orban claimed that wage rises and increases in pensions need to be funded by increased economic growth, rather than higher borrowing.
In spite of calls by the central bank not to increase Hungary’s deficit, Orban increased his spending and the Hungarian opposition alliance conducted a first round primary election in order to choose Orban’s rival.
There is no date yet for the elections.
Fidesz was upset in 2019 municipal elections by a patchwork of parties, including the ex-far-right Jobbik. This party has rebranded itself as a center-right grouping and the Socialists.
These parties believe that this will serve as a model to remove Orban who is still in power after more than 10 years.
Zavecz Research’s August survey found support for Orban’s Fidesz was 37%, with 39% support for six of the opposition parties.
($1 = 303.44 forints)
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