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Hungary is facing economic hardships that cast doubt on Viktor Orban's re-election as the country's prime minister in the 2026 elections. Reuters writes about this.
The main problem for Budapest right now is high inflation, the effects of which are felt throughout the economy.
“Hungarians have not seen such a decline in living standards since Fidesz [party] came to power (in 2010),” said Balazs Szent-Ivany, a political economist at Aston University in Britain who specializes in Central Europe.
Economists say the rise in inflation, especially in 2022-23, was driven by Russia's invasion of Ukraine and the associated economic shocks to Europe, as well as Orban's own actions. Before the 2022 parliamentary elections, he spent $5,35 billion on state handouts to the population, which also fueled inflation.
The European Commission predicts that by the end of 2025, the Hungarian economy will grow by 1,8% - the lowest figure in Orbán's 15-year rule.
Some polls show Péter Magyar’s growing center-right Tisza party overtaking Fidesz. Capital Economics Emerging Europe analyst Nicholas Farr says this raises the “real prospect” of Orbán losing an election for the first time since coming to power in 2010.
According to Bloomberg, before the next elections in 2026, Orban plans to resort to indirect bribery of voters again to win them over to his side. In particular, he plans to provide subsidies of 3 million forints ($7697) to pensioners in rural areas to help them renovate their homes. Pensioners and voters in rural areas are Orban’s electoral base.
