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14th February, 2020

Socialists call on gov’t, MNB to explain weak HUF

The Socialist Party is calling on the government and the central bank to explain why the forint has dropped to a historic low against the euro and what rate of exchange can be expected in the future, MP László Szakács said at a press conference in Budapest on Thursday.

Szakács said a weak forint benefits only multinational companies while it is bad for Hungary and Hungarians. Labour costs for large international companies that deal in euros are drastically decreasing while Hungarian families face higher prices in nearly every aspect of life, he said.

The Orbán government has created a tax haven for multinational companies that pay one tenth the taxes that their workers pay, he added.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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