Hungary’s Prime Minister Viktor Orban, known for his conservative views on issues such as immigration, gender, and “the woke virus,” is taking a different stance by attempting to control the prices of eggs and other basic goods. Faced with high inflation rates in Hungary, currently the highest in the European Union, Orban recently implemented price controls on 30 essential food items and accused supermarkets of price gouging. Orban claimed that the Hungarian government will force supermarkets to lower their prices by capping them at a 10 percent markup, stating that the current markup on eggs is an “unacceptable” 40 percent.
Orban attributes inflation to grocery stores, many of which are foreign-owned, and blames them for price increases. His shift towards price controls highlights his struggles in managing Hungary’s ailing economy, which has led to a decline in his popularity. The economic troubles have weakened Orban’s position both domestically and internationally. The Hungarian Economic Research Institute reported that its business confidence index had reached a 50-month low.
An opposition movement led by Peter Magyar, a former Orban loyalist, is gaining support, particularly among those concerned about the country’s “staggering cost-of-living crisis” and allegations of corruption. Orban’s attempts to focus attention on issues like immigration and false accusations of the European Union’s influence on Hungarian children’s gender identities have become less effective in diverting attention from economic issues.
According to Agoston Mraz, director of the Nezopont Institute, inflation is now the most pressing concern for voters. Orban’s efforts to ban gay pride parades and his anti-EU rhetoric do not address the economic realities, including the 7.1 percent increase in food prices in February compared to the previous year. The country’s economic struggles have weakened its position in negotiations with the European Union and made it reliant on EU funds. Standard & Poor’s recent downgrade of its outlook for Hungary is partly due to the potential loss of EU funds. Despite this, Orban is continuing his attempts to control prices and considering tax reductions, which would increase the budget deficit. Critics argue that his actions are reminiscent of communist-era policies rather than those of a free market economy.
Source: https://www.nytimes.com/2025/03/20/world/europe/hungary-orban-economy.html
