Belgium, (Brussels Morning Newspaper) Teachers’ protests continued in Hungary on Sunday, with thousands of teachers, students and supporters hitting the streets of Budapest on Sunday.
Protesters are demanding growth of wages for teachers and calling on the government to rein in inflation, according to Reuters reporting on Sunday.
The protest in Budapest took place hours after Prime Minister Viktor Orbán promised to maintain subsidies for rising utility bills and preserve economic stability as the EU faces an economic crisis.
Protesters pointed out that wages of teachers are low, especially considering soaring inflation, which exceeded 20% in September and is still on the rise. In earlier teachers’ protests, they called for higher wages, the right to strike and a solution to the growing shortage of teachers.
In his speech earlier on Sunday, Orbán warned that 2023 would be challenging as the war in neighboring Ukraine rages on.
Hungary is facing “a war in the East and an economic crisis in the West,” he noted, and added that the EU was struggling with “a financial crisis and economic downturn.”
“In 1956 we learned 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,” Orbán stressed.
Hungary revolted against communist rule in 1956 in a revolution known as the Hungarian Uprising.
Finance Minister optimistic
On Monday, Hungarian Minister of Finance Mihály Varga noted at a business conference organised by the American Chamber of Commerce in Hungary that the country has a “good chance” to avoid a recession.
He predicted that economic growth will slow down in 2023, but pick up pace in the second half of the year. “According to our calculations, Hungary’s economic growth will be around 4.5% this year,” he pointed out.
Varga noted that Hungary’s labour market has not been affected by the war in Ukraine, according to employment data, adding that the labour market and high investment rate continue to support the economy.
“Unlike several [EU] countries, Hungary has a good chance to avoid economic recession with an economic growth of approximately 1%… in 2023 or 2024 we will gradually return to the previous growth path at around 4%,” he concluded.
