Hungary Unveils Controversial Anti-War Action Plan Amid Economic Strain

Hungary's government announced an 'anti-war' action plan, targeting banks, energy firms, and multinational companies for contributions to a 'defence fund.' The plan includes maintaining windfall taxes and regulating foreign media funding. Critics say the government is curbing media freedom and lacks EU authorization for its initiatives.

Hungary's government has introduced an 'anti-war' action plan, targeting significant contributions from banks, energy firms, and multinational companies to create a 'defence fund.' The plan, announced Monday, also scrutinizes foreign-funded media, accusing them of supporting the conflict in Ukraine.

Prime Minister Viktor Orban, known for his critical stance against Western military aid to Ukraine, is pushing this agenda while fostering close ties with Russian President Vladimir Putin. Although Hungary is not directly involved in the Ukraine conflict, Orban's administration seeks additional revenue sources amid a budget deficit exceeding EU limits, averaging nearly 7% over the past four years.

Inflation and fuel price surges due to Western sanctions on Russian energy have boosted profits for banks and energy firms. The government aims to capitalize on these gains by continuing windfall taxes and increasing transaction fees. Criticism has arisen over media freedom, with the initiative viewed as another step in Orban's long-standing efforts to control media narratives.

(With inputs from agencies.)