THE EUROPEAN COMMISSION’S SHAMEFUL ROLE IN THE VICTORY OF FIDESZ
▻http://hungarianspectrum.org/2018/04/16/the-european-commissions-shameful-role-in-the-victory-of-fidesz
In his blog, Viktor Zsiday, an economist, one of the richest persons in Hungary, portfolio manager of Concorde Asset Management and chairman of PLOTINUS Asset Management, provides yet another explanation for the election victory of Fidesz. He cites the 1992 saying of Bill Clinton: “It’s the economy, stupid!” meaning that people are mostly interested in the state of the economy: whether the economy will grow, they will have a job, their wages will increase, or not. Analyzing the statistical figures for the years 1994-2018, Zsiday clearly demonstrates a positive correlation between the growth of wages and the results of the national elections: in every case, in comparison with the previous elections, the number of votes for the ruling party always increased if the wages grew in the period before the elections, and the number of votes decreased if the wages fell. As a substantial increase of the wages occurred in Hungary in the last few years, the voters favoured Fidesz.
The Hungarian economy depends to a high extent on EU funds. A study on the topic ordered by the Hungarian government and still accessible on the government’s website states: “International comparisons show that in relation to GDP, it is in Hungary that EU funds had the biggest effect on the economy. At the same time, between 2006 and 2015 GDP increased only by 4.6 percent. From this it can be concluded that the growth perspectives of the Hungarian economy are not reassuring, its growth depends too much on EU funds.”