Part 2/10:
The roots of Hungary’s economic difficulties can be traced back to the onset of the COVID-19 pandemic. During this period, like many European countries, the Hungarian government, led by Prime Minister Viktor Orbán, was compelled to implement substantial fiscal support measures aimed at shielding households and businesses from the economic fallout. The fiscal deficit reached an alarming 7.6% of GDP in 2020, marking the largest deficit figure since 2006. The trend continued as the nation weathered the pandemic, with deficits of 7.2% in 2021 and 6.2% in 2022, often amplified by the economic repercussions of Russia's invasion of Ukraine.