Hungary's socialists lose support on deficit-cutting measures

Elections

Hungarian Prime Minister Ferenc Gyurcsány's Socialist Party has lost half of its popular support three months after its election victory as plans to cut the budget deficit were made public. Support for the Socialists fell to 21% this month from 43% in the April election, while support for the largest opposition party Fidesz fell to 35% from 42%, Budapest-based polling Gallup said yesterday. Gyurcsány's plans to raise taxes and regulated prices to slash the European Union's largest budget deficit worsened people's outlooks for their finances and eroded the party's support. „Two-thirds of Hungarians expect their financial situation to deteriorate in the next year and only a fifth of them expect an improvement over the next four years, „ the pollster said in an e-mailed statement. Gyurcsány on June 10 released his detailed plans to cut the budget deficit by Ft 350 billion ($1.6 billion) this year and a further Ft 1 trillion in 2007. The measures include higher taxes and increased prices for natural gas, electricity, medicines and public transport. The Free Democrats' Alliance, the Socialists' governing partner, had 2% support from 6.3% in the election. Support for the opposition Hungarian Democratic Forum was at 3%, compared with 5% in April. (Bloomberg)

ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Gov't to support organic farming with HUF 40 bln of funding Government

Gov't to support organic farming with HUF 40 bln of funding

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

BFK developing regional cycling strategy City

BFK developing regional cycling strategy

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.