The average wealth of lawmakers sitting in Parliament since 2010 has increased by 20% in one year and by 786% over ten years, economic investigative site Mfor reports. While back in 2010, an MP had an average net worth of HUF 3.1 million (EUR 8,600), which has increased to almost HUF 28 million (EUR 77,900) by 2020.
Mfor only took into account those representatives who have sat in Parliament since 2010- some 125 politicians (most of them obviously coming from the governing parties). And they only assessed the declared assets (securities, investments, cash, loans, and debts), leaving out properties.
According to the results of their calculations, by 2020, the MPs had a total combined net financial worth of HUF 3.5 billion (EUR 9.7 million), while in 2019 this was only HUF 2.9 billion (EUR 8.1 million). Mfor notes that while this equals a growth of some 20%, Hungarian households only grew by less than 10% in the same period, according to their estimations.
In addition, these MPs only had roughly HUF 401 million (EUR 1.1 million) in total assets, when in 2010 they began working in the National Assembly.
Examples and broken-down figures:
- their securities’ portfolio rose by 21% to 2.4 billion in one year
- the amount they had in savings only rose by 1% in comparison to 2019, but by 587% in comparison to 2011
- In 2020, MPs have approximately HUF 303 million (EUR 843,000) in cash, which is 89% more than in the previous year and 29% more than in 2011
In terms of real estate, while in 2011 deputies possessed 512 properties in total, this increased to 682 by 2020. Fourteen Fidesz MPs top the list in this matter, namely Gábor Varga, who owns 44 properties, former PMO Chief János Lázár 33 properties, and László L. Simon with 32 properties.
featured image illustration via Zoltán Balogh/MTI