Breaking News
Investing Pro 0

Thousands protest against PM Orban's government, "runaway inflation"

Economy Oct 24, 2022 05:56AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Hungarian Prime Minister Viktor Orban attends the inauguration of Mindszentyneum during the celebrations of the 66th anniversary of the Hungarian Uprising of 1956, in Zalaegerszeg, Hungary, October 23, 2022. REUTERS/Bernadett Szabo

BUDAPEST (Reuters) -Thousands of Hungarians including teachers and students marched through Budapest on Sunday to protest against the government, demanding higher wages for teachers and a curb on surging inflation that is eroding incomes.

Walking across a bridge over the Danube, protesters held up banners like "Orban get lost" and "No teachers, no future," a few hours after nationalist Prime Minister Viktor Orban pledged to preserve economic stability and maintain a cap on household energy bills even as the EU slides into an "economic crisis".

But at the latest in a series of anti-government protests participants said his government had let teachers down by giving them meagre salaries, while inflation, which topped 20% in September and is still rising, was becoming unbearable.

"I am here...for my children, there should be change," said Gyongyi Bereczky, a mail carrier, who joined the protests for the first time. "This runaway inflation... we cannot save up at all anymore, simply we cannot make ends meet as prices are soaring."

Teachers and students have been protesting for higher wages, a solution to a deepening shortage of teachers, and the right to strike.

As the country marked the anniversary of the 1956 uprising against Soviet rule, Orban, who was reelected for a fourth consecutive term in April, said earlier on Sunday that next year would pose challenges with the war in neighbouring Ukraine.

"A war in the east, and an economic crisis in the West," Orban told supporters in Zalaegerszeg, about 200 km (124 miles)west of Budapest, adding that there was "financial crisis and economic downturn in the EU".

"In 1956 we learnt that unity is needed in difficult times... we will preserve economic stability, everyone will have a job, we can defend the scheme of caps on energy bills, and families will not be left on their own."

Caps on gas and electricity bills have been a key plank of Orban's policies, but the costs of the scheme surged this year due to soaring energy prices, burdening the state budget. The government was forced to scrap the cap for higher-usage households from Aug. 1.

It is due to amend the 2023 budget in December as the budget law, approved in July, forecast growth at 4.1% next year while inflation was seen at 5.2% -- forecasts since rendered obsolete by the surge in prices into double-digits. Economic growth is now expected to slow to 1% next year.

The forint plunged to record lows earlier this month, forcing the central bank to ramp up interest rates in an emergency move.

Thousands protest against PM Orban's government, "runaway inflation"
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (15)
Ken Roth
Ken Roth Oct 24, 2022 9:42AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Hungary should not be in EU, Orban belongs to russia
nils Hullmann
nils Hullmann Oct 24, 2022 5:52AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
there are protestd in EVERY EU Country so stop the EU bootlicking reuters next time report from germany where the somalian machete attack splits off hands and throwing them on balkonies after  ******a blue collar and his apprentice thats whats awaits countries with mass migration froma africa...not in your interest reuters ? orban keeps tight migration policies
Stephen Fa
Stephen Fa Oct 23, 2022 10:01PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
A preview of Democrat's socialist vision for America and the decline of the US Dollar. There's no body to bail out the US from its debt.
Stephen Fa
Stephen Fa Oct 23, 2022 10:01PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Sorry, comment posted on wrong article.
Maximus Maximus
Maximus Maximus Oct 23, 2022 10:01PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
yeah, you seem to be very confused
Brad Albright
Brad Albright Oct 23, 2022 10:01PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
It's okay, nobody takes you seriously anyway.
Maximus Maximus
Maximus Maximus Oct 23, 2022 9:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
good for them, time to get rid of this fascist a##hole
nils Hullmann
nils Hullmann Oct 23, 2022 9:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
the day orban gets replaced with EU puppet goverment the gangrape statistic will skyrocket...as seen as in sweden and germany
Brad Albright
Brad Albright Oct 23, 2022 9:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
nils Hullmann Wow. That sounds horrible. Thanks for the warning.
Gus McCrae
Gus McCrae Oct 23, 2022 2:57PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
In Hungary is Orban's inflation. Everywhere else is Russian's gas inflation
Warm Camp
Warm Camp Oct 23, 2022 2:57PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
They make exception for UK too, as long as Conservatives are in power.
nils Hullmann
nils Hullmann Oct 23, 2022 2:57PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
western media is just interlectuelle inbreeding at this state
Gábor Kardos
Gábor Kardos Oct 23, 2022 2:47PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
most corrupt gov we ever had. spreading fear and agitating against western standards for the sole purpose of keeping authority and stealing more money
Show previous replies (2)
Warm Camp
Warm Camp Oct 23, 2022 2:47PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Gábor Kardos  My reply has mentioned specifically that Hungarian elections were conducted according to western standards. Did you notice?
Gábor Kardos
Gábor Kardos Oct 23, 2022 2:47PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
the capital, budapest and other major cities vote against him. it is the undereducated, poor people in the countryside voting fir him. you can sell propaganda much easier and buy votes by organising events and give free food and drinks from EU money
Warm Camp
Warm Camp Oct 23, 2022 2:47PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Gábor Kardos  Callng folks, whose political choice you dislike, various names like “undereducated” tells more about you than about them. Also, Hungary has various media outlets propagating different political views. People vote, elections are free, and numbers show clear that they support Orban. That’s the reality, deal with it.
László Tuba
László Tuba Oct 23, 2022 2:47PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The Orban's majority winning with 2/3 is true and with western standards! That is why you shouln't compare this with Russia and North Korea :) !By the way I can say that. This huge win was because of the Orban's regime sent a lots of blank money to people who elected him.
Warm Camp
Warm Camp Oct 23, 2022 2:47PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
László Tuba  Thanks for this confirmation. Also, many governments in the west find ways to channel money for votes. For example Biden recently signed off $400B without any congressional authorization, and “incidentally” it’s happened right before elections. This world is imperfect.
Gábor Kardos
Gábor Kardos Oct 23, 2022 2:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
as a proud hungarian, orban's regime is the most corrupt we have ever seen. agitating against EU, western world, spreading fear and nationalism. Göbbels was an amateur compared to them
Warm Camp
Warm Camp Oct 23, 2022 2:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
If memory serves, Orban was one of the young leaders many years ago who overturned communist rule in Hungary. Correct?
Gábor Kardos
Gábor Kardos Oct 23, 2022 2:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
yes, Castro, Saddam, Gaddafi, Putin, Mao were probably the same back at the time
Warm Camp
Warm Camp Oct 23, 2022 2:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Gábor Kardos  They we’re not the same. Suggest you learn something from history.
nils Hullmann
nils Hullmann Oct 23, 2022 2:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
dude keep it real watch what happens to germany right now and pray to god you never get a eu puppet goverment
Gábor Kardos
Gábor Kardos Oct 23, 2022 2:38PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
O1G
jason xx
jason xx Oct 23, 2022 1:41PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Do they think they are the only country with inflation?
Ac Tektrader
Ac Tektrader Oct 23, 2022 1:36PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
in Orban's case, gain their love then rip them off... Urban's soft fascism and major corruption is destroying Hungry.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email