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Minister for economic development wants majority Hungarian ownership in retail
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Under the present circumstances, Hungary is in need of not just a self-sufficient economic policy but also a self-sufficient economy in order to achieve sustainable convergence, Márton Nagy, the candidate for minister for economic development, said on Wednesday.
“We are living in a turbulent decade in which we are simultaneously threatened by war, constant pandemic waves and the resulting energy and food crises,” Nagy said in a hearing before parliament’s economic committee.
Hungary must protect its economic achievements in a way that it emerges stronger from the crisis, he said.
Nagy said that
though 51 percent of the economy was under Hungarian ownership, the majority of the building materials, food retail, insurance and telecommunications sectors were still under foreign ownership.
He also said Hungary needed reduce its energy dependence, pointing out that the country’s energy imports accounted for 4 percent of GDP.
Hungary, however, “is in good shape” when it comes to food production, he said, arguing that the country produced twice as much as it consumed and that net food exports account for 1.6 percent of GDP.
Nagy said Hungary’s level of development was at 76 percent of the European Union average, with the country having overtaken Greece and Portugal and closing in on Poland.
The rules of the single market within the EU are quite clear. This daydreamer can bang the nationalistic drum all that he likes, but no country, no member state within the EU can do what he proposes. Nor is it desirable – without the foreign employers, Hungary would collapse economically. It is a house of cards as it is.
Ideally, the Foreign Assets would be sold at discount (since there’s no alternative) to Trusted and Carefully Selected Patriots …
We will have more domestic billionaires !
@Norbert, unless deemed to be essential for national security (with agreement from the EU) there is no way that the Hungarian government can force a fire sale of assets in Hungary owned by companies based in other EU member states. That is EU Law to which Hungary signed up to, so what this no-mark, wannabe says is just hot air, just like your comment. You seem to forget that Hungary is a beggar nation: the tail will not wag the dog.