Hungarian PM Orban warns of economic collapse in Europe

Hungarian Prime Minister Viktor Orban has warned that high energy prices could devastate the European economy, expressing doubts over the European Union’s ability to curb costs.

Speaking on state radio, Orban recalled that EU member states had adopted a declaration in 2024 aimed at reducing gas and oil prices, Caliber.Az reports via foreign media.

However, he cast doubt on its effectiveness.

"I fear that our great collective promise will not be fulfilled, and we will continue to face high energy prices. Energy prices in Europe are rising, and this will destroy the economy," Orban said.

The Hungarian leader suggested that resolving the conflict in Ukraine could help stabilize the situation but questioned whether the current EU leadership was capable of making decisions that would benefit economies such as Hungary’s.

"I do not believe that the current leaders of the European Union can take the necessary management decisions to improve the economic situation," Orban said.

By Aghakazim Guliyev