Lajos Bokros: We are Not Far Away From State Bankruptcy


Economist Lajos Bokros, former Minister of Finance, was a guest of ATV’s Straight Talk tv-program. According to the Fidesz narrative, the former politician, famous for his 1995 austerity package (he prefers to call it financial stabilization), spoke on the show that the economy is not in such a bad situation because of the Russian imperialist war, and the same is true of high inflation.

Lajos Bokros sees the government’s incorrect, unprofessional and unreasonable economic policy as the primary cause, and the war only made it worse. And if the government cannot come to an agreement with Brussels, and the EU funds for “countries that do not destroy the rule of law” do not come, the fear of state bankruptcy will threaten the country.

Recalling his own package, he recalled that at that time there were hardly any demonstrations, because society was honestly told that people could “stretch as long as the blanket would last”. We will definitely have to deal with three things: with the utility reduction, which is a harmful measure that destroys the economy and does not encourage saving, with the petrol price freeze, which strengthens the deficit and the black economy, as well as with KATA, because as Bokros explained, a significant layer was exempted from social security contributions.

In summary, Lajos Bokros emphasized once again that the Orbán’s government is responsible for the bad state of the economy.


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