Reducing utility bills this year could cost the Hungarian state 1,300 billion forints (3.4 billion euros), or 320,000 forints (846 euros) per family, according to estimates by the GKI Institute for Economic Research.
According to estimates, the reduction of the fuel bill took 20 billion forints (790 million euros) from the budget in 2021, while this year it could increase to 1,300 billion forints (3.43 billion euros).
By the end of March, Hungary’s public deficit had already reached 73% of its full-year target.
Prime Minister Viktor Orban announced on Wednesday that he would launch an emergency action in the European Union in order to keep reduced energy prices. This would include the decapitation of gas and electricity prices, the suspension of the emissions trading system (greenhouse gas emission reduction scheme – ETS) and the suspension of requests to mix biological constituents in fuel.
Even if the member states accepted these proposals, the price of electricity would not fall significantly, estimates the director general of GKI.
Source: hungarytoday.com