Government
Chinese President Xi Jinping is visiting Hungary from May 8th to 10th. Chancellery Minister Gergely Gulyás announced this on Thursday.
At the usual government press conference, Gulyás emphasized that it was in Hungary’s interest to maintain good relations with as many countries as possible. China’s economic power now exceeds that of the EU; Budapest refuses to approach economic contacts with ideological blinders. “Of course there are ideological differences between us, but the world is going in the wrong direction if it doesn’t favor free trade.”
The price of wars
Confirming the statements of Economy Minister Márton Nagy, the government expects dealers to voluntarily reduce fuel prices. A deadline of two weeks was set for this. “As soon as the prices correspond to the average in the region, we do not need to intervene in the market.” A tax cut is out of the question because the high budget deficit must be reduced. Incidentally, Hungary is in fifth place among the EU countries with the lowest tax share in fuel prices. (The business portal portfolio.hu points out the fact that the special tax for retail is omitted from the government’s calculations.) “The drivers here also pay the price for the wars; As soon as peace returns, fuel prices will also fall once more.”
Competition law suspended
In response to Spar Magyarország’s annual press conference, the Chancellery Minister confirmed the government’s intention to sue the trading group – presumably for damage to its reputation. Apparently Austrian Spar CEO Hans Reisch went too far when he claimed that “business people close to the government” wanted to get involved in the Hungarian subsidiary.
The new competition law, which was intended to give the competition regulator GVH more powers, is postponed. Gulyás explained that there were several objections from business. He affirmed the government’s intention to align the legal norm with Community law.
After the failure of the reconstruction fund, the government wants to introduce a constitutional amendment according to which Hungary’s approval for future joint borrowing would be tied to a two-thirds majority in parliament. “Community debt is the goal of the same circles that dream of the United States of America,” warned the minister.
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