economy

Tisza included Brussels’ goal of banning Russian energy in its programme. The measure would impose heavy costs on all Hungarians, and is therefore rejected by two-thirds of adults. However, the ban divides political camps: while 59% of Tisza voters support it, 96% of Fidesz-KDNP voters reject the move.

Tisza’s austerity package would cause serious livelihood problems. The party’s measures would radically reduce household incomes while increasing their costs. The average Hungarian’s net income would fall from HUF 475,000 per month to HUF 346,000, i.e. by HUF 129,000.

It has been leaked that if Tisza were to win the election, they would impose severe austerity measures. The party would raise personal income taxes, abolish tax breaks, and ban Russian energy sources. The majority of Hungarians reject all elements of the Tisza package, a survey by Századvég found.

Péter Magyar would deliver on Brussels’ expectations and cut off Hungary from Russian energy sources. The ban would increase the annual electricity and gas bills of an average Hungarian family by HUF 510,000, and those of low-income families by HUF 540,000. More than a million households would not be able to afford it.

The Tisza Party has adopted Brussels’ objective of banning Russian energy sources into its programme. The measure would have serious consequences: Hungary could buy less oil, which would raise the price of petrol to 1,026 forints per litre and diesel to 1,051 forints, according to an estimate by Századvég.

In the first three years of the Russia-Ukraine war, Hungary was hit by costs of around 9,100 billion forints, which amounted to more than 2 million forints per family. Ukraine’s accelerated accession would increase the burden further. The direct costs would be close to 2 thousand billion forints per year, which would amount to almost half a million forints per household. Additional indirect costs, which are difficult to quantify, could be even higher.

Századvég’s latest analysis compares growth forecasts for the German economy with actual GDP growth. The figures show that Europe’s largest economy has systematically underperformed market expectations since the outbreak of the Russia-Ukraine war. The European sanctions policy has therefore caused far greater economic damage than anyone had previously expected.

The majority of European citizens believe that the punitive measures benefit America and China, while they harm Ukraine, Russia and the EU. Századvég’s research reveals that almost three times as many respondents think that sanctions are primarily damaging to the European Union as those who see Russia as the primary loser.