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Coronavirus – Socialists Propose New Economic Policy Measures

MTI-Hungary Today 2020.03.21.

The opposition Socialist Party has proposed measures which it said would increase “security, predictability, calm and confidence” amidst the novel coronavirus epidemic.

The government should take immediate measures to protect the forint as a 10 percent depreciation of Hungary’s currency entails a 1 percentage point increase in the rate of inflation, deputy leader Lászlo Szakács said.

Coronavirus’ Brutal Economic Impact in Hungary Already Felt

He reiterated the proposal for extending unemployment benefits from three to nine months, and raising its amount to a monthly 100,000 forints (EUR 280).

The Socialists also propose setting up a wage guarantee fund so that those who would otherwise be laid off could keep their job, he said.

Szakács stressed the need for a programme boosting the economy so that Hungarian SMEs could survive the current crisis.

Featured photo via mszp.hu