Hungary to Boost Pensions to Offset Higher Inflation, Orban Says
(Bloomberg) -- Hungary’s government is planning to pay out a pension bonus to offset the effects of high inflation for the elderly, Prime Minister Viktor Orban said Friday during a weekly interview on state broadcaster Kossuth radio.
“Inflation is higher than we would have presumed in our right mind at the beginning of the year,” Orban said. “We must correct pensions against the higher-than-expected inflation in the second half of the year too.”
The cabinet is also weighing an additional pension payment in February, ahead of general elections next year that are likely to be the toughest for Orban’s Fidesz party since it came to power in 2010.
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