THE POLITICS OF HUNGARIAN SOVEREIGHTY

The article analyzes main aspects of V. Orban's policy of strengthening Hungarian economic sovereignty. The Hungarian leadership had to find out balanced and reasonable approach to tackle the world economic crisis. Hungarian ballot package included reform of economic regulation on a state'...

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Main Author: L. A. Yurasova
Format: Article
Language:English
Published: MGIMO University Press 2016-08-01
Series:Vestnik MGIMO-Universiteta
Subjects:
Online Access:https://www.vestnik.mgimo.ru/jour/article/view/599
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spelling doaj-46ec08ca1ae04370b7d1feac0cb786492021-09-21T11:00:26ZengMGIMO University PressVestnik MGIMO-Universiteta2071-81602541-90992016-08-0104(49)9911610.24833/2071-8160-2016-4-49-99-116599THE POLITICS OF HUNGARIAN SOVEREIGHTYL. A. Yurasova0Russian Federation Presidential Office of the constitutional rights of citizensThe article analyzes main aspects of V. Orban's policy of strengthening Hungarian economic sovereignty. The Hungarian leadership had to find out balanced and reasonable approach to tackle the world economic crisis. Hungarian ballot package included reform of economic regulation on a state's level, taking moderate protectionist measures and foreign trade diversification. V. Orban's government succeeded in constitutional reform that allowed to consolidate power to deliver coherent economic policy and to harmonize separation of powers with that goal to be reached. Moreover, transferring of economic regulation to constitutional level lead to stabilization of monetary sphere. V. Orban's government enhanced state sector of economy in vulnerable areas, rose taxation on large business and shrank loans' burden of citizens in order to maintain positive economic growth. This measures ensured potential to advance further inside demand rates and to galvanize market capacity. Finally, V. Orban announced "openness to the East" policy aimed at diversifying foreign trade of Hungary. The main focus of the policy was trade with China and Russia. However, supranational authorities of European Union objected this policy goals on the grounds of economic and political consideration. But Hungarian leadership advocated its policy in a very tough way, which is a good example of self-reliance and pragmatism for the future of Europe.https://www.vestnik.mgimo.ru/jour/article/view/599unorthodox economic policyeconomic sovereigntyopenness to the eastv. orban
collection DOAJ
language English
format Article
sources DOAJ
author L. A. Yurasova
spellingShingle L. A. Yurasova
THE POLITICS OF HUNGARIAN SOVEREIGHTY
Vestnik MGIMO-Universiteta
unorthodox economic policy
economic sovereignty
openness to the east
v. orban
author_facet L. A. Yurasova
author_sort L. A. Yurasova
title THE POLITICS OF HUNGARIAN SOVEREIGHTY
title_short THE POLITICS OF HUNGARIAN SOVEREIGHTY
title_full THE POLITICS OF HUNGARIAN SOVEREIGHTY
title_fullStr THE POLITICS OF HUNGARIAN SOVEREIGHTY
title_full_unstemmed THE POLITICS OF HUNGARIAN SOVEREIGHTY
title_sort politics of hungarian sovereighty
publisher MGIMO University Press
series Vestnik MGIMO-Universiteta
issn 2071-8160
2541-9099
publishDate 2016-08-01
description The article analyzes main aspects of V. Orban's policy of strengthening Hungarian economic sovereignty. The Hungarian leadership had to find out balanced and reasonable approach to tackle the world economic crisis. Hungarian ballot package included reform of economic regulation on a state's level, taking moderate protectionist measures and foreign trade diversification. V. Orban's government succeeded in constitutional reform that allowed to consolidate power to deliver coherent economic policy and to harmonize separation of powers with that goal to be reached. Moreover, transferring of economic regulation to constitutional level lead to stabilization of monetary sphere. V. Orban's government enhanced state sector of economy in vulnerable areas, rose taxation on large business and shrank loans' burden of citizens in order to maintain positive economic growth. This measures ensured potential to advance further inside demand rates and to galvanize market capacity. Finally, V. Orban announced "openness to the East" policy aimed at diversifying foreign trade of Hungary. The main focus of the policy was trade with China and Russia. However, supranational authorities of European Union objected this policy goals on the grounds of economic and political consideration. But Hungarian leadership advocated its policy in a very tough way, which is a good example of self-reliance and pragmatism for the future of Europe.
topic unorthodox economic policy
economic sovereignty
openness to the east
v. orban
url https://www.vestnik.mgimo.ru/jour/article/view/599
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